Bajaj Electricals, part of the Bajaj Group, saw its shares surge 11% in early trade on Tuesday, January 20, touching an intraday high of ₹468 apiece, after the company announced its entry into the wires segment. Today’s rally also provided a breather to the stock, which was under pressure over the past seven trading sessions.
In an exchange filing today, the company said it has decided to enter the wires business as a new business line under its Lighting Solutions segment, citing growing demand in the wires industry.
The company said the move is intended to enable expansion and diversification of its business operations for sustainable growth.
Further, the company informed that it is planning to launch the product shortly and will assess the market to ascertain the investment required, which will be determined based on various factors, including the scale of business, operational requirements, and other prevailing external factors.
For the September quarter, the Lighting Solutions segment witnessed strong growth, offsetting a decline in Consumer Products. The revenue from the segment came in at ₹274 crore, compared with ₹250 crore in the same period last year. Margins from the segment improved by 200 basis points to 7.9%, aided by operating leverage and a favourable product mix.
The cables & wires industry has been growing rapidly in recent years, fueled by a strong government focus on infrastructure development, the rising trend of nuclear families, an increase in electrification in rural areas, and a rise in exports of cables & wires, etc.
Bajaj Electricals holds a prominent position in India’s fast-moving electrical goods (FMEG) segment, boasting a legacy spanning over nine decades. Its diverse product portfolio includes consumer products such as appliances, fans, and non-electric kitchen aids, as well as lighting solutions encompassing both consumer and professional lighting.
Big players crowd the C&W space
Competition in the cables and wires segment is intensifying. While Bajaj Electricals has announced its entry into the wires business, two major conglomerates—UltraTech Cement and the Adani Group—also announced their foray into both cables and wires segment last year, heating up the competition in this space.
In March 2025, Adani Enterprises announced its entry into the cables and wires industry through a joint venture between its wholly owned subsidiary, Kutch Copper Limited (KCL), and Praneetha Ventures.
UltraTech Cement announced its entry into the cables and wires (C&W) segment in February 2025 as part of its strategy to become a comprehensive ‘Building Solutions’ provider.
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