Cement stocks fall after CCI raids on allegations of price cartelisation

This will not impact positive sentiment in the sector, say analysts

Topics
Competition Commission of India CCI | Cement sector | Cement stocks

Aditi Divekar  |  Mumbai 

Shares of large cement players such as UltraTech Cement, The Ramco Cement, Shree Cement, and Ambuja Cements tumbled 2-5 per cent on Thursday following news that the Competition Commission of India (CCI) conducted searches at the companies on allegations of price cartelisation. “Raid is a very harsh word. The CCI officials had come yesterday (Wednesday) for an enquiry related to pricing.

They met our marketing officials along with other team members involved in pricing of cement. There was nothing unfriendly about their visit,” Hari Mohan Bangur, managing director of Shree ...

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