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Ultra tech’s entry into cables & wires shocks KEI , Polycab and Havells Stocks
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Ultra T decision to enter the cable and wires industry has caused jitters across stocks in the sector on fears of heightened competition.
Shares of polycab india ltd, KEI Industries Ltd, Havells India Ltd, RR Kabel Ltd and Finolex Cables Ltd fell by 6% to 21% on Thursday. It is also likely that valuations of some stocks were steep to begin with and just needed a trigger.
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