Wires on fire: Why UltraTech’s Rs 1,800 crore Ultravolt bet wiped out Rs 21,500 crore in 2 days

UltraTech’s entry into wires and cables triggered a sharp selloff in listed peers as investors assess the impact of intensified competition on market share, pricing and margins. While house wires and light-duty cables face the most immediate pressure, higher-voltage segments remain relatively insulated. Analysts remain positive on long-term industry growth, but caution that elevated valuations leave incumbents vulnerable.