VERIFIEDET Stocks·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 dropped up to 9% following UltraTech Cement's entry into the wires and cables business with its ₹1,800 crore venture, Ultravolt.
·Brokerages have cautioned that this aggressive market entry by the Aditya Birla Group could lead to a near-term de-rating for the entire cables and wires sector.
·Despite the concerns, Nuvama has maintained its stance, keeping Polycab and KEI Industries as its preferred picks.