Shree Cements down 3% as CCI imposes penalty of Rs 397.5 cr
Shares of Shree Cements fell as much as 2.9% in early trade on Tuesday after the competition watchdog The Competition Commission of India (CCI) yesterday imposed a penalty of Rs 397.51 crore on the company for indulging in restrictive trade practices.
July 31, 2012 / 09:57 IST
Shares of Shree Cements fell as much as 2.9% in early trade on Tuesday after the competition watchdog The Competition Commission of India (CCI) yesterday imposed a penalty of Rs 397.51 crore on the company for indulging in restrictive trade practices.
"The Commission has also imposed a penalty on Shree Cement Ltd at the rate of 0.5 times of its profits for the years 2009-10 and 2010-11 aggregating to Rs 397.51 crore," CCI said in a statement.At 09:49 hours IST, the share was trading at Rs 2,999.95, down 2.08% with volumes of 643 equity shares.
Market capitalisation of the company currently stands at Rs 10,450.99 crore. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
