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Shares of select cement companies trading lower in early deals after the Competition Commission of India (CCI) has imposed more than Rs 6,700 crore penalties on 11 cement companies for cartelisation.
ACC is currently trading at Rs. 1683.20, down by 24.45 points or 1.43% from its previous closing of Rs. 1707.65 on the BSE. The scrip opened at Rs. 1670.00 and has touched a high and low of Rs. 1690.00 and Rs. 1664.00 respectively. So far 19018 shares were traded on the counter.
Jaiprakash Associates is currently trading at Rs. 11.24, down by 0.42 points or 3.60% from its previous closing of Rs. 11.66 on the BSE. The scrip opened at Rs. 11.50 and has touched a high and low of Rs. 11.50 and Rs. 11.08 respectively. So far 1578356 shares were traded on the counter.
Ambuja Cements is currently trading at Rs. 274.55, down by 4.45 points or 1.59% from its previous closing of Rs. 279.00 on the BSE. The scrip opened at Rs. 273.00 and has touched a high and low of Rs. 275.80 and Rs. 272.40 respectively. So far 61925 shares were traded on the counter.
The Competition Commission of India (CCI) has imposed more than Rs 6,700 crore penalty on 11 cement companies i.e. Jaiprakash Associates, UltraTech, Binani, Ramco, JK Cement, Lafarge, India Cements, ACL, ACC, Century, Shree Cement, besides Cement Manufacturers’ Association (CMA) - for cartelisation.
The final order has been passed by CCI, pursuant to the directions issued by the Competition Appellate Tribunal (CAT) remanding the matter back, while setting aside the original order of the fair trade regulator, which had had also imposed fine on cement companies.
CCI has imposed fine of Rs 1,323.60 crore on Jaiprakash Associates, Rs 1,147.59 crore on ACC, Rs 1,163.91 crore on ACL, Rs 167.32 crore on Binani, Rs 274.02 crore on Century, Rs 187.48 crore on India Cements, Rs 128.54 crore on JK Cement, Rs 490.01 crore on Lafarge, Rs 258.63 crore on Ramco and Rs 1,175.49 crore on UltraTech.
| Company Name | CMP |
|---|---|
| Ultratech Cement | 9887.00 |
| Ambuja Cement | 620.00 |
| ACC | 2523.40 |
| Shree Cement | 26205.00 |
| Dalmia Bharat | 1815.00 |
| View more.. | |
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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