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Wires and cable stocks plunge as UltraTech Cement announces entry into the sector
Shares of cable and wire companies crashed on Thursday, with some tumbling as much as 21 per cent, following UltraTech Cement’s announcement of its entry
Polycab, KEI Industries, RR Kabel, Havells face de-rating, target price cut as UltraTech forays into cables & wires
UltraTech Cement’s foray into the cables and wires (C&W) sector is expected to be a disruptive development, potentially leading to a de-rating in valuation multiples