Ultravolt Enters Wires and Cables Market with Rs 1,800 Crore Investment

The Aditya Birla Group has entered India's wires and cables market with its new brand, Ultravolt. The company plans to invest Rs 1,800 crore in the venture and aims to become one of the top two players in the segment within five years.

Ultravolt will have a significant advantage due to its parent company's existing manufacturing and distribution networks. Hindalco Industries, which mines and refines copper, will provide Ultravolt with direct access to high-purity copper and greater supply-chain control. UltraTech Cement's massive network of dealers, contractors, and construction clients will also give the new player a strong foothold in the market.

The existing players in the segment have seen their stock prices drop sharply following the announcement. Polycab India's share price fell by 15% in September, while KEI Industries and Havells India dropped by 22% and 14-18%, respectively.