Adani's Entry Shakes Cable & Wire Stocks

Shares of top cable and wire makers—

KEI Industries, Polycab, and Havells—plunged on March 20 after Adani Group announced its entry into the segment with a new joint venture, Praneetha Ecocables. While Adani Enterprises traded in the green, Polycab, KEI, Havells, and RR Kabel saw significant declines amid market concerns.