Indian Cable Stocks Plummet as Aditya Birla Launches Ultravolt
Aditya Birla Group (ABG) has announced the launch of its wires and cables business, namely Ultravolt, on 3rd September 2026 under Ultratech Cement Limited. Rollout of this business segment comes prior to the planned December 2026.
Following this announcement, major Indian cable manufacturers have suffered a drop in their share prices. Previously, in February 2025, a similar drop in stock market was triggered after Ultratech Cement announced its entry into the wires and cables industry.
Cable Majors’ Equities Face Multi-Day Selloff
The launch announcement caused a multi-day selloff for cable majors, including Dynamic Cables Limited, KEI Industries Limited, RR Kabel Limited, Havells India Limited, Polycab India Limited, and Finolex Cables Limited. This fall in share price was reflected on the next trading day, Friday, 4th September, and persisted on Monday, 7th September.
Share Price (in Rs.)
Comparing the mentioned companies’ share prices on 3rd September with 7th September, we observe that Dynamic Cables suffered the most, with its stock plummeting by 15.29%. Further, KEI and RR Kabel also saw a similar drop in shares of 11.70% and 8.81%, respectively. Share price of Polycab declined by 6.20%, whereas Havells saw a decrease of 4.17%.
Finolex Cables share price went down by 3.61%; however, contrary to the other companies, its share increased slightly by 2.23% on 7th September as compared to 4th September.
Advantage of Hindalco and Ultratech’s Supply Chain
As Hindalco Industries Limited is owned by Aditya Birla Group (ABG), Ultratech gains access to Copper and Aluminium, which account for approximately 70% of cable and wire production costs.
Moreover, addition of Ultravolt business segment will complement Ultratech Cement’s existing construction value chain. This will enable Ultratech Cement to achieve its core goal of transitioning from a cement commodity player into a one-stop building solutions provider.
“We are venturing at pan-India scale… Our plan is to reach more than one lakh retailers and further activate availability through over 5,000 UltraTech Building Solutions (UBS) outlets”, said Mr Dilip Gaur, Director, Ultravolt.
Manufacturing Scale & Portfolio Expansion into Electrical Accessories
Backed by an investment of Rs. 1,800 crore, Ultratech Cement’s new manufacturing facility in Jhagadia, Gujarat commenced commercial manufacturing on 1st September 2026. As per the company’s previous commitment, this facility will manufacture 30 to 40 lakh Km of wires and cables. In its press release, Aditya Birla Group mentioned that this facility will leverage its location in Gujarat to facilitate efficient distribution and logistics operations.
Also, Mr Sriram Rangarajan, Chief Executive Officer (CEO), Ultravolt, said that with a consumer-first approach, the company is launching a portfolio of home wires, flexible wires, and cables designed for residential, commercial, industrial, and infrastructure applications. He added that, in future, the company intends to increase its range by including electrical accessories in its product mix.
Emphasizing the importance of this launch, Mr Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, “Wires and cables are becoming central to India’s next phase of development. They sit at the intersection of three mega trends in the Indian economy – urbanization, electrification and digitization.”