India, Sept. 26 -- Vindhya Telelinks is at an interesting inflection point. The company is still largely an EPC business, but the part of its portfolio that is gaining strategic importance is much smaller: cables. Optical fibre, solar PV, railway, EV and other specialty cables are increasingly becoming a larger part of the company's growth strategy, just as demand for digital and renewable infrastructure is changing the cable industry.

What makes the story more interesting is that this shift is beginning to show up in profitability. The company's own Q1 release attributed the improvement to a richer product mix and higher contribution from optical fibre cables.

Now, add the proposed Birla Cable merger, which could create a larger cable...