Get all your news in one place.

100's of premium titles.
One app.

Get all your news in one place.

100's of premium titles. One news app.

The Economic Times

Business

Nikhil Agarwal

Wires on fire: Why UltraTech’s Rs 1,800 crore Ultravolt bet wiped out Rs 21,500 crore in 2 days

Ultratech Ultravolt KEI RR Kabel Finolex Cables JM Financial Nikhil Agarwal Nomura Polycab Apar Industries

UltraTech’s entry into the wires and cables business has set off a sharp selloff in listed players, wiping out about Rs 21,500 crore in market value in just two trading sessions.

Polycab India suffered the biggest rupee erosion, losing Rs 8,766 crore in market capitalisation in two days. KEI Industries followed with a Rs 5,158 crore decline, while Havells India, RR Kabel, APAR Industries and Finolex Cables lost a combined Rs 7,501 crore.

Sign up to read this article

Read news from 100's of titles, curated specifically for you.

Already a member? Sign in here

Top stories on inkl right now

Search continues after boat capsizes off Baja California coast. 16 rescued, but others missing

Search continues after boat capsizes off Baja California coast. 16 rescued, but others missing

Authorities are searching for 11 people missing after a boat from Mexico capsized off Baja California

The Independent UK

Los Angeles County Confirms First Cychlorphine Overdose Death From a Potent Opioid That Fentanyl Test Strips Miss

Los Angeles County Confirms First Cychlorphine Overdose Death From a Potent Opioid That Fentanyl Test Strips Miss

LA County confirmed its first cychlorphine overdose death. The opioid evades fentanyl test strips. What to know about naloxone and free drug testing.

E. coli Outbreak Tied to Chicken Wraps Grows to 50 Cases, but Officials Have Not Named a Brand

An E. coli O157:H7 outbreak tied to chicken wraps has grown to 50 cases, FDA data show. The brand is still unnamed. Symptoms and when to seek care.

Minnesota Measles Cases Reach 42 as Todd and Fillmore County Outbreaks Add 23 Cases in Three Weeks

Minnesota Measles Cases Reach 42 as Todd and Fillmore County Outbreaks Add 23 Cases in Three Weeks

Minnesota measles cases reach 42 as Todd and Fillmore County outbreaks add 23 cases in 21 days, all among unvaccinated people. What families should do.

One subscription that gives you access to news from hundreds of sites

Already a member? Sign in here

Iranian fishermen hunt for iPhones and perfumes after cargo ship sinks in Hormuz

Iranian fishermen hunt for iPhones and perfumes after cargo ship sinks in Hormuz

The Singapore-flagged GFS Pride went down after a fire broke out on board, Singapore said. All 21 crew members were evacuated safely. The vessel was carrying more than 2,500 containers when it sank, according to Iran's Islamic Revolutionary Guard Corps (IRGC) navy, which claimed the ship had entered an “unauthorised…

The Times of India

Mom Of The Teen Behind The Oregon Elementary School Tragedy Breaks Silence, As First Photos Of Him Are Revealed

Mom Of The Teen Behind The Oregon Elementary School Tragedy Breaks Silence, As First Photos Of Him Are Revealed

The mother of 16-year-old Griffin J. John II has spoken out after he was accused of carrying out a deadly shooting at Silver Rail Elementary School in Oregon.

Related Stories

Top stories on inkl right now

Search continues after boat capsizes off Baja California coast. 16 rescued, but others missing

Search continues after boat capsizes off Baja California coast. 16 rescued, but others missing

Authorities are searching for 11 people missing after a boat from Mexico capsized off Baja California

The Independent UK

Los Angeles County Confirms First Cychlorphine Overdose Death From a Potent Opioid That Fentanyl Test Strips Miss

Los Angeles County Confirms First Cychlorphine Overdose Death From a Potent Opioid That Fentanyl Test Strips Miss

LA County confirmed its first cychlorphine overdose death. The opioid evades fentanyl test strips. What to know about naloxone and free drug testing.

E. coli Outbreak Tied to Chicken Wraps Grows to 50 Cases, but Officials Have Not Named a Brand

An E. coli O157:H7 outbreak tied to chicken wraps has grown to 50 cases, FDA data show. The brand is still unnamed. Symptoms and when to seek care.

Minnesota Measles Cases Reach 42 as Todd and Fillmore County Outbreaks Add 23 Cases in Three Weeks

Minnesota Measles Cases Reach 42 as Todd and Fillmore County Outbreaks Add 23 Cases in Three Weeks

Minnesota measles cases reach 42 as Todd and Fillmore County outbreaks add 23 cases in 21 days, all among unvaccinated people. What families should do.

One subscription that gives you access to news from hundreds of sites

Already a member? Sign in here

Iranian fishermen hunt for iPhones and perfumes after cargo ship sinks in Hormuz

Iranian fishermen hunt for iPhones and perfumes after cargo ship sinks in Hormuz

The Singapore-flagged GFS Pride went down after a fire broke out on board, Singapore said. All 21 crew members were evacuated safely. The vessel was carrying more than 2,500 containers when it sank, according to Iran's Islamic Revolutionary Guard Corps (IRGC) navy, which claimed the ship had entered an “unauthorised…

The Times of India

Mom Of The Teen Behind The Oregon Elementary School Tragedy Breaks Silence, As First Photos Of Him Are Revealed

Mom Of The Teen Behind The Oregon Elementary School Tragedy Breaks Silence, As First Photos Of Him Are Revealed

The mother of 16-year-old Griffin J. John II has spoken out after he was accused of carrying out a deadly shooting at Silver Rail Elementary School in Oregon.

Our Picks

‘She Likes It Gross And Dirty’: Internet Slammed Dakota Johnson After Insider Share Her Intimate Life With MGK

Dakota Johnson’s alleged romance with Machine Gun Kelly has sparked online backlash after an insider allegedly shared intimate details about their chemistry.

Kristin Davis 'wasn’t eating any real food', but why?

Kristin Davis has recalled feeling self-conscious about her appearance during her Sex and the City days.

Quentin Tarantino awkwardly confronts Ellen DeGeneres over chat show snub

Some viewers said the moment recalled a notorious encounter between the former chat show host and actor Dakota Johnson in 2019

The Independent UK

Youngest Astronaut To Walk the Moon Claims UFOs Are 'Demonic' Deceptions Following Sign From God

Apollo 16 astronaut Charlie Duke says UFOs are 'demonic' after a breakfast talk he took as a sign from God, highlighting the divide between faith and evidence.

International Business Times UK

Self-Described UFO Expert Claims NASA Image Shows a Massive Alien Ship Moving at 'Tremendous Speed'

Self-described UFO expert Scott C Waring says a rectangular shape in a solar image is a huge alien spacecraft, but its size, speed and nature remain unverified.

International Business Times UK

Florida woman can barely open her eyes after anesthesia. Then a nurse reaches over and straightens her head: ‘Hold your head up’

Nurses moved a groggy patient to a chair

We Got This Covered

Fourteen days free

Download the app

One app. One membership.
100+ trusted global sources.

Download on the AppStore

Get it on Google Play