UltraTech's entry into wire production triggers 5% drop in cable stocks
Shares of Polycab India, Havells, and KEI Industries saw a decline of as much as 5% following the launch of commercial wire and cable production by UltraTech Cement at its Gujarat facility. With a production capacity of 11 lakh km, the company's entry is expected to heighten competition within the organized cable sector. Meanwhile, market participants are closely monitoring robust demand for the industry driven by the telecom, infrastructure, power, and data center segments.
by shortkt.com✓