UltraTech enters wires and cables market with Ultravolt brand

Shares of major cable manufacturers, including Polycab India, KEI Industries, and RR Kabel, faced significant selling pressure following the launch of Ultravolt, a new wires and cables brand by the Aditya Birla Group under UltraTech Cement.

UltraTech has committed ₹1,800 crore to the new venture, aiming to become one of the top two players in the wires segment within five years. At launch, Ultravolt already possesses the second-largest capacity in the wire category. The company plans to leverage its existing distribution network, targeting over 100,000 retailers and 5,000 UltraTech Building Solutions outlets to accelerate market entry.

Market analysts suggest that the entry of such a well-capitalized competitor could lead to increased pricing pressure and market-share shifts. While Polycab's stock fell below the ₹8,800 support level, JP Morgan has maintained an “overweight” rating on the company, citing its strong financials and net cash position.