Economy · India
Aditya Birla Group enters wires and cables market, challenging Polycab
Aditya Birla Group's UltraVolt has entered India's wires and cables market with an investment of ₹1,800 crore. The move challenges existing players like Polycab, which holds a 30% market share. Polycab has stated it will defend its market share amidst concerns that the new capacity could lead to margin pressure. Analysts are weighing the potential threat to Polycab, KEI, and RR Kabel.
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- Centre (2): Mint, The Financial Express