Polycab debuted on the stock market in 2019 at a price of 643 and it hit the 52 week high of 5733 is December’23. But it has been caught in tax fraud case. The Income Tax Department swooped down on more than fifty of Polycab’s locations, including major ones in Delhi, Pune, and Mumbai. Polycab is accused of hiding cash sales of a whopping Rs 1,000 crore from its official records.
Here’s a great read on the case: