Polycab India, KEI, Havells, RR Kabel, UltraTech tank up to 15%; here's why

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Polycab India, KEI, Havells, RR Kabel, UltraTech tank up to 15%; here's why - Business Standard

Quick Summary:

Shares of Polycab, KEI, Havells India and R R Kabel slumped up to 15% after UltraTech announced its foray into wires & cables segment with an investment of Rs 1,800 crore over the next 2 years.

UltraTech in an exchange filing on Tuesday, February 25, 2025, after market hours said the proposed entry into this segment of the construction value chain, through its Building Products Division, is in line with the company’s strategy to strengthen its position as a comprehensive Building Solutions provider.

Among the W&C stocks, Polycab India (down 15 per cent at Rs 4,894.80), KEI Industries (down 15 per cent at Rs 3,226.65) and R R Kabel (down 13 per cent at Rs 962.20) tanked over 10 per cent each.