Mutual funds lose over ₹5,800 crore as cable stocks crash: Report
Mutual funds with significant exposure to cables and wire companies' stocks lost over ₹5,800 crore on Thursday, NDTV Profit reported. The decline comes as shares in the cables and wire sector dipped up to 21% following UltraTech Cement's announcement that it's entering the industry. Mutual funds of Motilal Oswal, PGIM India and Canara Robeco were among those affected.