New Delhi, March 20 -- Shares of major players in the cables and wires segment came under heavy selling pressure in intraday trade on Thursday, March 20, amid renewed concerns following Adani Group's entry into the market. This comes just weeks after UltraTech Cement's foray into the segment, further intensifying concerns over increased competition in the industry.

In addition, the sharp rise in both copper and aluminum prices-key raw materials used in cables & wires-has pushed costs to multi-month highs, further weighing on sentiment.

Adani Enterprises announced its entry into the cables and wires industry through a joint venture between its wholly-owned subsidiary Kutch Copper Limited (KCL) and Praneetha Ventures.

The newly incorpora...