Cement stocks tumble after CCI raids on allegations of price cartelisation

Cement stocks tumble after CCI raids on allegations of price cartelisation

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Competition Commission of India CCI | Cement sector | Cement stocks


Aditi Divekar  | 
Mumbai 

Shares of astronomical cement gamers comparable to UltraTech Cement, The Ramco Cement, Shree Cement, and Ambuja Cements tumbled 2-5 per cent on Thursday following knowledge that the Competition Commission of India (CCI) conducted searches at the agencies on allegations of price cartelisation. “Raid is a truly harsh note. The CCI officers had attain the previous day (Wednesday) for an enquiry connected to pricing.

They met our advertising and marketing officers in conjunction with diversified crew participants titillating about pricing of cement. There modified into nothing unfavorable about their focus on over with,” Hari Mohan Bangur, managing director of Shree …

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First Published: Fri, December 11 2020. 00: 15 IST

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