Cable Wire Stocks Fall Up To 9% As Aditya Birla Group Enters Wires Business Amid Data Centre Boom

Aditya Birla Group confirmed it is entering the sector with a new business called UltraVolt, backed by an investment of Rs 1,800 crore. Investors read the move as a threat to the market share of existing players, and the stocks were hit hard right from the opening bell.

KEI Industries bore the brunt of the selloff. The stock opened at Rs 5,000 on the NSE and fell to an intraday low of Rs 4,848.75, down nearly 9 per cent from the previous close of Rs 5,327.

Polycab India fell as much as 6.32 per cent to an intraday low of Rs 8,250, and Havells India fell up to 4.75 per cent to Rs 1,149.70.

Likewise, Finolex Cables and RR Kabel also came under pressure, falling 4.86 per cent and 9.30 per cent, respectively.

On the other side of the trade, UltraTech Cement, the company that will house the new wires business, gained nearly 2 per cent.

The new business, UltraVolt, was announced on September 3, 2026 by group chairman Kumar Mangalam Birla. He said the venture will start out as the second largest player in the wires segment by capacity and has set a target of becoming one of the top two players in the country within five years.

This is the fourth new business the Aditya Birla Group has launched in three years. It follows the group's entry into paints through Birla Opus, jewellery retail through Indriya and B2B e-commerce through Birla Pivot, apart from a string of investments and acquisitions in newer areas.

Housed under UltraTech Cement, UltraVolt extends the cement major's footprint in the construction value chain beyond grey cement, ready mix concrete, building products and white cement. The group has added the business to its Building Solutions strategy to benefit from growth in housing, infrastructure and electrification.