New Delhi, Feb. 27 -- Shares of major players in the cables and wires segment came under significant selling pressure in today's session, February 27, after UltraTech, an Aditya Birla Group company, announced its entry into Cables and Wires (C&W) as part of its strategy to become a comprehensive 'Building Solutions' provider.

UltraTech's entry into the Rs.1.8 trillion Cables and Wires market (as of FY23) has dented investor sentiment, as the move raises concerns over intensified competition, potential pricing pressures, and a shift in market dynamics that could challenge existing players.

Against this backdrop, shares of Polycab India, which is the largest cables & wires company in India hit the 10% lower circuit in today's session, rea...