UltraTech Cement’s foray into the wires and cables segment has sent ripples across the industry, with stocks of key players like Polycab India, Havells, KEI Industries, and RR Kabel witnessing a sharp decline of up to 19%. Deven Choksey, MD, DR Choksey FinServ, believe that while UltraTech’s entry is a strategic move aligned with India’s long-term infrastructure growth, established players in the segment may not face an immediate threat. He highlights that companies with strong service capabilities and market presence, similar to how Asian Paints dominates its sector, will continue to hold ground. UltraTech’s diversification mirrors a broader trend of conglomerates expanding their portfolios, but cracking the market will require significant effort, product differentiation, and sustained execution.