Polycab India Limited, a company specializing in the manufacture of wires and cables, saw its stock price soar to an unprecedented 8539.50 rupees during trading on Thursday. By the close of the market, the share finished at 8504 rupees, reflecting a 1.86% increase. This impressive rise has taken the company's stock to an all-time high, with a market capitalization now reaching 1.28 lakh crore rupees. Over five years, the share has provided a staggering return of about 536%, rewarding investors substantially.

The surge in Polycab's share price is part of a broader trend, with the company delivering a remarkable 10% return in just the last five days and an annual return of approximately 82%. Such performance positions Polycab as a multi-bagger for investors, significantly enhancing its value in the market. The stock is currently trading above all its key moving average lines, indicating robust investor confidence.

Analysts have taken notice of this momentum, as evidenced by Morgan Stanley's recent report, which assigned a 'buy' rating to Polycab's shares and set a target price of 9373 rupees. This endorsement reflects expectations for continued growth and investor interest in the company, which has established a strong track record in the Indian market for electrical components and wiring solutions.