Polycab Shares Slip After UltraTech Starts Commercial Wires and Cables in Gujarat
UltraTech began commercial production of wires and cables at its Jhagadia Gujarat plant, following a plan to invest about ₹1,800 crore over two years. Shares of Polycab India fell about 4.7% to ₹9,000, while KEI Industries dropped around 6% and Havells India about 1.8%. UltraTech’s stock edged up, as the sector is projected to grow around 13% CAGR through 2030.