New Delhi, March 3 -- Cement producer UltraTech Cement share price climbed up to 3.5 per cent on Monday, March 3, following the company's detailed announcement about its entry into the cables and wires segment on Friday. The stock is rebounding after experiencing a significant sell-off on Thursday and Friday last week.

At 12:25 pm, UltraTech Cement shares was trading at Rs.10,412.75, up over 3 per cent. The stock closed at Rs.10,114 apiece on Friday.

UltraTech's planned entry into the cables and wires sector with an investment of Rs.1,800 crore resulted in a nearly $4 billion decline in the market capitalization of companies such as Polycab, KEI Industries, and their peers.

In an investor presentation released on Friday evening, UltraT...