Jefferies has retained its buy rating on Polycab with a revised target price of INR 4,290, indicating a potential return of 25% from the present market price of INR 3,425, citing the cables and wires manufacturer's consistent execution over recent quarters along with robust operational performance in Q4 2023. The brokerage company also reported that Polycab showed its highest-ever sales and PAT in FY23, led by sustained demand from private capex and government measures.