Top 5 Wires and Cables Stocks in India

Quick Summary

India's wires and cables industry is benefiting from rising investments in infrastructure, renewable energy, railways, metros, EVs, housing, and digital connectivity. Leading players such as Polycab, Havells, KEI Industries, Sterlite Technologies, and Motherson Sumi Wiring are well-positioned to capitalize on these long-term growth opportunities and expanding market demand.

Wire and cable stocks may not grab headlines, but they play an essential role in India's infrastructure growth. Sectors such as power, renewable energy, real estate, railways, data centres, and EVs rely heavily on them.

In fact, every new EV charging station, solar park, metro line and 5G tower requires kilometres of specialised cables, creating a massive growth opportunity for W&C manufacturers. As India accelerates investments in infrastructure, renewable energy and digital connectivity, demand for wires and cables continues to rise.

And the growth potential is reflected in industry projections. India's wires and cables market is at around USD 23.1 billion in 2026 and is expected to reach USD 35.6 billion by 2031.

As a result, leading companies in the sector are expanding capacity and strengthening their market presence to capitalise on this opportunity. In this blog, we look at the top 5 wires and cables stocks in India in 2026 based on market leadership, financial strength and long-term growth potential.

List of Best Wires and Cables Stocks in India

The table below highlights the top 5 wires and cables companies listed on Indian stock exchanges, ranked by market capitalisation and 5yr CAGR returns.

Company	Market Cap ₹ Cr	June 26 ROE	June 26 ROCE	5yr CAGR Return	Dividend Yield June 2026
Polycab India	1,43,512	24%	34%	457%	0.37 %
Havells India	73,649	19%	25%	11%	0.85%
KEI Industries	50,333	15%	20%	645%	0.09%
Sterlite Technologies	28,840	2%	7%	218%	0%
Motherson Sumi Wiring India	25,326	32%	39%	24%	1.48%

Data Source: Screener, data as of 2 June 2026. 5-year returns calculated from 2 June 2021 to 2 June 2026.

Overview of Best Wires and Cables Stocks

Here’s a quick overview of the best wires and cable companies in 2026, including their core business and key strengths.

1. Polycab India

Polycab India is the largest wires and cables company in India, with an estimated market share of around 26-27% in the domestic organised W&C Market. And its business has grown 25% CACR in the past 9 yr. The company manufactures building wires, power cables, control cables, optical fibre cables, and specialised industrial cables.

Beyond wires and cables, Polycab has expanded into the fast-moving electrical goods (FMEG) segment, offering products such as fans, switches, lighting solutions, and home appliances. The company also operates an EPC business that executes power distribution and underground cabling projects.

Why investors track Polycab: Polycab's market leadership, strong distribution network, diversified product portfolio, and exposure to infrastructure and housing demand make it one of the most closely watched wires and cables stocks in India.

2. Havells India

Havells India is one of India's leading electrical equipment and consumer electrical brands, with a diversified presence across wires and cables, switchgear, lighting, fans, appliances, air conditioners, and power distribution products. The company also owns the Lloyd brand, which strengthens its presence in the consumer durables segment.

While Havells is widely known for its consumer electrical products, its wires and cables business remains a key revenue contributor and benefits from growing demand driven by infrastructure development, real estate expansion, renewable energy projects, and power distribution upgrades.

Why investors track Havells: Havells benefits from its strong brand, wide product range, and extensive distribution network. The company has also invested over ₹700 crore in the past 2 years to expand its cable manufacturing capacity, including EV charging and extra-high-voltage (EHV) cables, supporting future growth in both domestic and export markets.

3. KEI Industries

KEI manufactures a broad range of products, including extra-high-voltage (EHV), high-tension (HT), low-tension (LT), and medium-voltage (MV) power cables, along with control, instrumentation, solar, EV, marine, and fire-resistant cables. KEI also operates an EPC business and manufactures winding wires and stainless-steel wires.

A key strength of KEI is its growing export business and leadership in EHV cable segment, which is benefiting from rising investments in power transmission and infrastructure projects.

Why investors track KEI Industries: KEI's strong distribution network, fast-growing export business, and focus on high-margin products such as EHV and specialised cables position it well to benefit from India's infrastructure and power sector growth.

4. Sterlite Technologies (STL)

STL is one of India's leading manufacturers of optical fibre and optical fibre cables, serving telecom operators, data centres, enterprises, and digital infrastructure projects. The company is among the largest integrated optical fibre producers in India and holds an estimated 8% share of the global ex-China optical fibre cable market in FY26.

A key growth driver for STL is rising demand from 5G rollouts, broadband expansion, AI data centres, and digital infrastructure projects. The company reported an order book of ₹7,309 cr as of FY26, up from ₹4,378 crore in FY25. In May 2026 it also announced plans to invest up to $100 million in United States to expand optical connectivity manufacturing for AI data centres and telecom customers.

Why investors track STL: Its growing order book, exposure to digital infrastructure, and expanding global presence make it a closely watched player in the optical fibre and connectivity space.

5. Motherson Sumi Wiring India (MSWIL)

MSWIL is India's leading automotive wiring harness manufacturer with a market share of over 40%. The company supplies wiring harness systems to passenger vehicles, commercial vehicles, two-wheelers, and off-road equipment, and is a key supplier to several EV platforms.

The company derives all its revenue from wiring harnesses, with passenger vehicles contributing 64% of FY26 revenue, followed by two-wheelers (12%), commercial vehicles (10%), off-road and farm equipment (6%), and others (8%). To support future growth, MSWIL invested ₹190 crore in FY26 and plans to invest another ₹200 crore in FY27 towards capacity expansion.

Why investors track MSWIL: Its market leadership, strong relationships with leading automakers, and growing exposure to India's vehicle and EV market support long-term growth prospects.

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India Wires and Cables Industry Outlook

According to Mordor Intelligence, the Indian wires and cables market is expected to grow from USD 23.13 billion in 2026 to USD 35.58 billion by 2031, registering a CAGR of 9.01%. Several long-term trends are supporting this growth. The rapid expansion of power transmission networks, renewable energy projects, data centres, and 5G infrastructure is creating sustained demand for wires, cables, and optical fibre solutions.

Also, the government's ambitious target of 500 GW of non-fossil fuel energy capacity by 2030 is expected to drive investments in transmission and distribution infrastructure, creating new opportunities for cable manufacturers.

Adding to the momentum, the government has continued its infrastructure push. In the Union Budget 2026-27, capital expenditure was increased to ₹12.2 lakh crore, up from ₹11.2 lakh crore in the previous year.

Why Do Investors Like Wires and Cables Stocks?

Several long-term growth drivers are making wires and cables stocks attractive to investors, such as:

Infrastructure Boom: Indian government has allocated ₹12.2 lakh crore for infrastructure spending in FY26-27. Large investments in power transmission, railways, roads, airports, and industrial projects are expected to generate demand for wires and cables.
Renewable Energy Expansion: India aims to achieve 500 GW of non-fossil fuel capacity by 2030. To support this goal, the country plans to invest nearly ₹9 trillion in transmission infrastructure by 2032, creating demand for power and transmission cables.
Railway, Metro and EV Expansion: The rapid growth of railways, metro networks, and electric vehicles is increasing demand for wires and cables across India. This makes the sector a key beneficiary of the country's infrastructure and electrification push.
Smart Cities and Urbanisation: Growing urbanization, government housing schemes, and rising residential and commercial construction continue to drive demand for building wires and electrical cables.
Data Centres and Telecom Growth: According to Care Edge rating, India's data centre capacity is expected to increase from 1.2 GW to 4GW by 2030, creating an opportunity for cable manufacturers. The ongoing rollout of 5G networks, BharatNet, and optical fibre infrastructure is also supporting demand.
China+1 Opportunity: Many global companies are reducing their dependence on China and looking for alternative manufacturing hubs. India is emerging as a preferred destination, creating export opportunities for Indian wire and cable manufacturers.

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Final Words

The wires and cables industry in India is expected to benefit from rising investments in infrastructure, renewable energy, railways, metro projects, EVs, housing, and digital connectivity. As these trends continue to drive demand, top wire and cable stocks with strong market positions, expanding capacity, and healthy financials could be well-placed to capitalize on India's long-term growth story.