Polycab Share Price Falls for 2nd Day Amid Adani’s Entry into Wires Business

Polycab India Limited’s share price declined for the second consecutive session, trading at ₹5,068.45 at 11:30 AM on the NSE as of 21 March 2025, down 0.29% from its previous close of ₹5,083.40. The stock opened at ₹5,100 and fluctuated between an intraday high of ₹5,139 and a low of ₹5,040.10.

Adani Group’s Foray into Cables and Wires

In an exchange filing on March 19, 2025, Adani Enterprises, the flagship company of the Adani Group, revealed that its wholly-owned subsidiary, Kutch Copper Ltd., has set up a joint venture (JV) called Praneetha Ecocables Ltd.

This move follows a similar announcement from the Birla Group’s UltraTech Cement last month.

Kutch Copper will hold a 50% stake in the new company, which will focus on manufacturing, marketing, and distribution of cables, wires, and metal products.

This development has brought Adani Enterprises into the spotlight, as investors assess the implications of its entry into the cables and wires sector.

The presence of a large corporate player like Adani is expected to intensify competition in the market.

Market Reaction: Share Prices Under Pressure

The announcement led to a sharp sell-off in incumbent cable stocks yesterday. KEI Industries dropped as much as 13.13%, Polycab India declined 8.84% and Havells India fell 4.42% during the day.

Competitive Landscape in the Cable Industry

The move by 2 major conglomerates—Adani and Birla—within a short span indicates growing interest in the sector, driven by rising infrastructure demand, industrial expansion, and increased electrification across India.

Conclusion

The entry of Adani Group into the cables and wires sector has introduced fresh competition, impacting market sentiment and existing players like Polycab, KEI, and Havells.

The sector’s evolving landscape, with growing interest from major conglomerates, highlights its potential for expansion amid rising infrastructure and industrial demand. Investors will closely watch how incumbents respond to the increasing competition and how Adani’s foray shapes the industry’s dynamics in the coming months.

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