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Polycab, KEI Industries shares crash up to 9% after UltraTech Cement enters wires & cables business. What Jefferies, Nuvama expect
Shares of Polycab and KEI Industries fell sharply after UltraTech Cement launched its ₹1,800 crore wires and cables business, Ultravolt. Brokerages warned that the Aditya Birla Groups aggressive entry could trigger near-term de-rating across the cables and wires sector, although Nuvama retained Polycab and KEI as its top picks.
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thehindubusinessline.com
UltraTech Cement launches Ultravolt wires and cables business
UltraTech Cement has launched Ultravolt, its wires and cables business, with a planned ₹1,800 crore investment, marking Aditya Birla Group’s fourth new foray.
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economictimes.indiatimes.com
Birla built India with cement, now it wants to wire up what powers it with a ₹1,800 crore bet
In an ambitious move, Aditya Birla Group has unveiled Ultravolt, a new enterprise dedicated to wires and cables. The company seeks to establish itself as a top contender within…
