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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
What should you do now that wires and cables stocks are crashing? Gurmeet Chadha answers
Gurmeet Chadha, CIO & Managing Partner, Complete Circle Consultants, says despite the fall, Polycab still trades about 30-35 times forward. But Chadha thinks it is a bit of an overreaction. Also, earlier when UltraTech came, the stock corrected and we saw a bit of a recovery. With Adanis entering the fray, there has been another correction. The cable and wire business is very different from the cement industry which saw a similar disruption? Over a period of time, the industry itself is likely to grow with surging power demand, and revival in housing and infra. By the time the new companies would be operational, the market would have grown by another Rs 15,000-20,000 crore from about Rs 1 lakh crore now. So, he does not see much concern in the long run.
What is your view on a beaten down sector like the wires and cables segment? What should an investor do if they are invested in this space right now and if they have some of these names like KEI or Havells or Polycab in their portfolio? Is this a move coming in on the back of news flow? It is just the one-time shock that is coming in and in the near future there is room for everybody to win in this space or do you believe that these new entrants could be creating more havoc than the Street is estimating at this point?
Gurmeet Chadha: It is a bit of a parallel street drawing of what happened to Asian Paints when Birla came up with the Opus brand.
But in paints, Asian Paints was holding more than 60% market share. This is a very fragmented industry.
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