Mumbai, Feb. 28 -- After upending India's paints industry with aggressive pricing, the Aditya Birla Group is now targeting the Rs.82,000 crore wires and cables market-this time through UltraTech Cement Ltd. The company has announced a Rs.1,800 crore investment over the next two years, setting the stage for a potential market shake-up.

But unlike paints, where Grasim's Birla Opus challenged incumbents like Asian Paints and Berger with deep discounts, UltraTech's entry into wires and cables comes with distinct hurdles.

The market has been quick to react-UltraTech's stock slid 5% on Thursday, following the announcement, while incumbent players like Polycab India, KEI Industries, and Havells fell 6% to 21% on fears of rising competition.

R...