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VERIFIEDET Markets·negative
Wires on fire: Why UltraTech’s Rs 1,800 crore Ultravolt bet wiped out Rs 21,500 crore in 2 days
AI Summary
- ·UltraTech's Rs 1,800 crore investment in wires and cables has led to a Rs 21,500 crore selloff in listed peers.
- ·The selloff is driven by investor concerns over intensified competition impacting market share, pricing, and margins.
- ·While house wires and light-duty cables are under immediate pressure, higher-voltage segments are less affected.