VERIFIEDET Markets·4 Sept 2026negative

Polycab, KEI Industries shares crash up to 9% after UltraTech Cement enters wires & cables business. What Jefferies, Nuvama expect

AI Summary

·Polycab and KEI Industries shares declined up to 9% following UltraTech Cement's entry into the wires and cables business.
·UltraTech Cement has launched its new wires and cables business with an investment of ₹1,800 crore.
·Brokerages anticipate a potential near-term de-rating for the cables and wires sector due to this aggressive market entry.