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UltraTech's cables, wires entry sparks market turmoil
The New Indian Express Tirunelveli
|February 28, 2025
The entry of UltraTech, the flagship cement company of the Aditya Birla Group, into the cables and wires (C&W) business has triggered a sharp decline in the shares of existing players in the market.
Analysts believe that India's largest cement manufacturer will have a significant advantage in establishing itself in this sector, benefiting from its extensive distribution network and the ability to source raw materials efficiently within the group. On Thursday, shares of major C&W companies plummeted: Polycab Ltd dropped 19% to ₹4,677, KEI Industries crashed over 21% to ₹2,989, and R R Kabel fell 20% to ₹892. Finolex Cables and Havells also saw declines of 6% and 7%, respectively.
This story is from the February 28, 2025 edition of The New Indian Express Tirunelveli.
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