Cables & Wire Stocks Extend Losses as Aditya Birla Group’s Entry Weighs on Sentiment
Stocks in the cables and wires segment continued to decline for a second straight session following the Aditya Birla Group’s announcement of its entry into the industry through Ultratech Cement.
As of February 28:
- Polycab India dropped 1.7%
- KEI Industries fell 3.2%
- Havells India declined 2.82%
- Ultratech Cement also slipped over 2% intraday
On February 27, Ultratech Cement revealed plans to invest ₹1,800 crore over two years to establish a cables and wires manufacturing facility in Bharuch, Gujarat, set to be commissioned by December 2026. The announcement triggered a sharp sell-off across the sector, with Ultratech Cement itself closing over 6% lower.
KEI Industries, Polycab India, Havells India, and RR Kabel were among the worst hit, tumbling over 17% on February 27 as selling pressure intensified.
While most analysts believe the entry of a new player may not significantly impact competitive dynamics in the near term, stocks in the segment remain under pressure for a second consecutive session.
