Polycab India Ltd has been in focus on Friday. On February 28, 2025, Polycab share price opened at ₹4,650.00, down from its previous close of ₹4,679.55. At 9:45 AM, the share price of Polycab was trading at ₹4,809.40, up by 2.77% on the NSE. Notably, the stock price touched its 52-week low today at ₹4,555.00.
This focus has come on February 27 itself, after UltraTech Cement, a part of the Aditya Birla Group, announced its entry into the Cables and Wires (C&W) sector. The company aims to position itself as a comprehensive ‘Building Solutions’ provider. This move signals heightened competition in the segment, particularly for existing market leaders like Polycab.
On Feb 27, Polycab share price opened at ₹5,400.00 and touched its day’s low at ₹4,656.00.
The Indian wires and cables market was valued at USD 8.71 billion in 2023 and is expected to reach USD 17.08 billion by 2032. Additionally, the electrical equipment market in India is projected to grow from USD 52.98 billion in 2022 to USD 125 billion by 2027, reflecting a CAGR of 11.68%. While UltraTech’s entry may introduce competitive pressures, the sector’s long-term growth prospects remain strong, driven by infrastructure expansion, industrial demand, and electrification initiatives.
This news not only impacted Polycab India, but also other wires and cables stocks, Kei Industries and Havells India. While these stocks traded in the red mostly on Feb 27, their performance today has been mixed.
On February 28, 2025, Kei share price opened at ₹2,974.00, down from its previous close of ₹2,999.05. At 9:49 AM, the share price of Kei Industries was trading at ₹3,070.95, up by 2.40% on the NSE.
Meanwhile, Havells share price opened at ₹1,438.00, down from its previous close of ₹1,451.25. At 9:51 AM, the share price of Havells was trading at ₹1,442.60, down by 0.60% on the NSE. The stock price touched its 52-week low on Feb 27 at ₹1,402.20.
On the other hand, UltraTech Cement share price opened at ₹10,490.00, up from its previous close of ₹10,447.65. At 9:50 AM, the share price of UltraTech Cement was trading at ₹10,396.75, down by 0.49% on the NSE.
The Indian wires and cables sector is poised for strong growth, but UltraTech’s entry introduces new competition that could impact market dynamics. Investors should closely monitor industry trends and company strategies before making investment decisions.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Feb 28, 2025, 10:06 AM IST
Nikitha Devi
Nikitha is a content creator with 6+ years of experience in the financial domain. Specialising in personal finance, investments, and market insights, Nikitha simplifies complex financial topics, making them accessible to readers.
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