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    HomeNewsBusinessStocksShree Cements down 3% as CCI imposes penalty of Rs 397.5 cr

    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
     
     
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    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.

    first published: Jul 31, 2012 09:55 am

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