ULTRACEMCO

stock review

said it will set up wires and cables plant in Bharuch, Gujarat, with an expenditure of Rs 1,800 crore over next two years. The plant is expected to be commissioned by December 2026. At 10.50 am, shares of the cement firm were quoting Rs 10,552.85, lower by 3.75 percent on the NSE. On the flip side, cable players such as KEI Industries and Polycab India shares sank 17 percent and 14 percent at Rs 3,132.85 and Rs 4,976.9 respectively. Shares of Havells India were down 5.1 percent at Rs 1,468.95, while RR Kabel's stock cracked 12 percent to quote Rs 972.6. UltraTech Cement noted that the entry into the C&W segment is in line with the its strategy to strengthen its position as a comprehensive Building Solutions provider. "UltraTech proposes to leverage its extensive manufacturing expertise coupled with its connect with the end-customers to deliver high-quality wires and cables thereby targeting a higher share of the customers wallet," said the firm in a press release.