UltraTech's Ultravolt entry to pressure wires margins; Kotak cuts target multiples

UltraTech's entry into wires and cables (W&C) with Ultravolt is "larger than initial expectations" and sector profitability, particularly in wires, is likely to be challenged, Kotak Institutional Equities said.UltraTech has set an ambition to become a top-2 player within five years, with a strategy…