India, Feb. 27 -- Several companies in the cables and wires segment saw their shares come under selling pressure on Thursday, after UltraTech Cement announced its entry into the sector.

Intensified competition, potential pricing pressures, and a shift in market dynamics are the concerns investors are seeing in the Rs.845 billion cables and wires market, according to a Mint report.

The entry of UltraTech, an Aditya Birla Group company, into the segment with an Rs.18 billion planned investment is part of its strategy to become a comprehensive 'Building Solutions' provider.

As a result, Polycab India which is the largest cable & wires company in India, saw its shares tumbling as much as 17.6%, reaching Rs.4,751 apiece.

Meanwhile, KEI Ind...