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.
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