“We consider that whereas progress alternatives throughout the section do exist, Ultratech appears to be concentrating on the Western and Northern markets, which implies head-to-head competitors with the likes of Polycab and KEI. What worries us past income/market share loss is incumbents seeing their pricing energy, and resultantly, margins being capped as Ultratech enjoying both the standard or pricing recreation might damage industry-wide pricing self-discipline. With the model recall that Ultratech enjoys, it could be too daring of us to imagine completely no impression on incumbents” wrote JM analysts Shalin Choksy and Jignesh Thakur of their report.
Polycab India to go ‘all out’ to defend market share as Birla enters wires and cables
