Adani Enterprises recently announced its entry into the cables and wires industry through a joint venture with Praneetha Ventures. The new company, Praneetha Ecocables Limited (PEL), was formed with Adani’s wholly owned subsidiary, Kutch Copper Limited (KCL), holding 50 percent of the equity in the venture.
The company will focus on manufacturing, marketing, and distributing cables and wires. The incorporation of PEL was completed on March 19, 2025, with a total share capital of Rs 10 lakh, divided into 100,000 equity shares of Rs 10 each.
This move comes after the Aditya Birla Group’s UltraTech Cement made its own foray into the cables and wires sector in February, planning an investment of Rs 1,800 crore. This makes Adani the second major conglomerate to enter the sector, signaling increased competition in the market.
Adani Enterprises will likely leverage its existing cement distribution network, to expand its reach in the cables and wires industry. By utilizing this well-established network, it can efficiently distribute its new products across India, ensuring faster market penetration and greater access to customers in both urban and rural areas.
However, Adani’s move has created ripple effects in the market, causing a sell-off in shares of major players like Polycab India and KEI Industries. The rising prices of copper and aluminum have also added pressure on the sector, creating concerns about increased competition and higher production costs, which could affect the profitability of existing companies in the cables and wires industry.
Here are a few cable stocks that are affected after entering Adani Enterprises in the cable industry
Polycab India Limited
With a market capitalization of Rs. 74,014.82 crores, the share of Polycab India Limited has reached an intraday low of Rs. 4,912.75 per equity share, down nearly around 9.72 percent from its previous day’s close price of Rs. 5,441.75. Since then, the stock has retreated and is currently trading at Rs. 4,924.45 per equity share.
Polycab India Limited was established in 1996 and is a leading manufacturer of cables and wires. The company offers a wide range of products, including electrical cables, building wires, and industrial cables, serving diverse sectors like construction, energy, and telecommunications.
KEI Industries Limited
With a market capitalization of Rs. 26,635.76 crores, the shares of KEI Industries Limited hit a 15 lower circuit of Rs. 2,787.55 per share on Thursday, down from its previous closing price of Rs. 3,279.45 per share.
KEI Industries Limited was established in 1968 and is a prominent manufacturer of cables and wires in India. The company produces a wide range of electrical products, including power cables, industrial cables, and house wires, catering to sectors such as energy, infrastructure, and construction.
Havells India Limited
With a market capitalization of Rs. 74,014.82 crores, the share of Havells India Limited has reached an intraday low of Rs. 1470.80 per equity share, down nearly around 5.56 percent from its previous day’s close price of Rs. 1557.40. Since then, the stock has retreated and is currently trading at Rs. 1486.35 per equity share.
Havells India Limited was founded in 1958 and is a leading electrical equipment company in India. It manufactures a wide range of products, including cables, electrical appliances, lighting, and switches. The company serves various sectors,like residential, commercial, and industrial applications.
Finolex Cables Limited
With a market capitalization of Rs. 12,748.26 crores, the share of Finolex Cables Limited has reached an intraday low of Rs. 827 per equity share, down nearly around 4.77 percent from its previous day’s close price of Rs. 868.45. Since then, the stock has retreated and is currently trading at Rs. 834.10 per equity share.
Finolex Cables Limited was established in 1958 and is a prominent manufacturer of cables and electrical products in India. The company offers a wide range of products, including power cables, communication cables, and household wiring, catering to sectors such as telecommunications, energy, and infrastructure.
Written By – Nikhil Naik
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