New Delhi, Sept. 4 -- Several cable-wire stocks, including KEI, Polycab, RR Kabel, and Finolex, declined in the morning trade on the BSE on Friday, 4 September, amid concerns over increased competition in the sector as Aditya Birla Group readies to enter the wires and cables segment with an Rs.1,800-crore investment.

Housed under the group's cement unit, UltraTech, the new business, named UltraVolt, aims to become one of India's top two wire and cable players within five years, according to group chair Kumar Mangalam Birla.

UltraVolt will be the second-largest player in the wires segment by capacity at launch.

The move comes after a series of new bets by the group, including its entry into paints with Birla Opus, jewellery retail throu...