By:- B.T Team

Image Credit:- Google

Adani's Market Shake-Up

Shares of KEI Industries, Polycab, and Havells drop up to 13% on March 20, 2025.

Adani Enterprises announces entry into the cables and wires sector with a joint venture, 'Praneetha Ecocables.'

Adani's wholly-owned subsidiary Kutch Copper partners with Praneetha Ventures, holding 50% each.

The new joint venture will manufacture, market, distribute, and sell cables, wires, and other metal products.

Adani Enterprises’ stock sees gains, trading at Rs 2,326 apiece on March 20 after the announcement.

Shares of cable industry leaders like Polycab, Havells, and KEI fall as investors react to Adani’s foray.

The new venture marks Adani’s entry into the competitive cables and wires market, challenging established players.

Aditya Birla Group’s UltraTech Cement also announces plans to enter the wires and cables sector with a Rs 1,800 crore investment.

The growing competition is likely to reshape the cables and wires industry landscape, as new players emerge.

Investors will closely monitor how these new entrants impact the stocks of existing cable manufacturers.

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