UltraTech Cement shares fall 5% as firm enters wires & cables segment with Rs 1,800 crore investment

The firm has announced its entry into the wires and cables segment, with an investment of Rs 1,800 crore to establish a plant in Gujarat over the next two years as part of its strategy to expand its presence in the construction value chain.

The plant will be located near Bharuch in Gujarat and is expected to be operational by December 2026, according to an UltraTech Cement statement.