Cement stocks collapse as CCI may rule against them for possible collusion

24 Apr 2012

After imposing hefty penalties on the agrichemical manufacturers’ viz., United Phosphorous and Excel Crop Care, the domestic cement makers fear similar move against them. The Competition Commission of India (CCI) deliberates that large cement companies have conspired to increase the prices and therefore may rule against the sector. The impact of this fearful spark is seen on the cement companies stocks, which are down by around 1-3%.

ACC is currently trading at Rs 1219.00, down by 24.80 points or 1.99% from its previous closing of Rs 1243.80 on the BSE. The scrip opened at Rs 1254.90 and has touched a high and low of Rs 1256.00 and Rs 1206.00 respectively. So far 22252 shares were traded on the counter.

Ambuja Cements is currently trading at Rs 153.05, down by 5.15 points or 3.26% from its previous closing of Rs 158.20 on the BSE. The scrip opened at Rs 158.20 and has touched a high and low of Rs 159.35 and Rs 152.10 respectively. So far 96071 shares were traded on the counter.

Ultratech Cement is currently trading at Rs 1446.50, down by 20.10 points or 1.37% from its previous closing of Rs 1466.60 on the BSE. The scrip opened at Rs 1490.00 and has touched a high and low of Rs 1492.30 and Rs 1441.00 respectively. So far 10565 shares were traded on the counter.

ACC Share Price

1822.95 -31.85 (-1.72%) Mar 05, 16:31
1 Year Price Chart
Peers
Company Name CMP
Ultratech Cement 6808.50
ACC 1822.95
Shree Cement 27800.00
Ambuja Cement 284.70
Dalmia Bharat 1471.00
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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