India's UltraTech Cement falls as analysts not impressed by cables and wires foray

Ultratech Cement

27/02/2025 05:26

Feb 27 (Reuters) - Shares of India's UltraTech Cement ULTC.NS fell 5% to hit their lowest level in eight months on Thursday as analysts raised concerns over the top cement maker's plan to foray into the cables and wires business.

Shares of the cement maker were last trading 5.05% lower at 10,410.1 rupees and were the top percentage losers on the benchmark Nifty 50 .NSEI, which was little changed on the day.

($1 = 87.3830 Indian rupees)

 (Reporting by Manvi Pant and Bharath Rajeswaran in Bengaluru; Editing by Mrigank Dhaniwala)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))