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VERIFIEDET Stocks·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 competitors over two days.
- ·The entry is expected to intensify competition, impacting market share, pricing, and margins, particularly for house wires and light-duty cables.
- ·Analysts are positive on the long-term growth of the industry but note that current high valuations make existing players vulnerable.