New Delhi, Sept. 29 -- Domestic brokerage firm Motilal Oswal has retained its bullish outlook on cables and wires (C&W) stocks, citing limited competition, reasonable valuations, and the sector's underperformance over the past year.

The brokerage believes that competitive intensity in the sector is unlikely to be as high as initially anticipated, despite entry announcements by new players such as Ultra Cement and the Adani Group.

Ultra Cement has since clarified that it does not intend to accelerate its planned Rs.18 billion investment beyond what was announced on February 25 for its foray into the C&W sector. Similarly, no concrete plans have emerged from the Adani Group following the establishment of Praneetha Ecocables, a JV by its s...