New Delhi: The axe continues to fall on companies who have been allotted coal blocks, but have till now failed to operationalise them. The Inter-Ministerial Group (IMG) in its meeting on Thursday recommended de-allocation of two coal blocks - Dahegaon Makardhokra and Bhaskarpara.
While Dhaegaon Makardhokra block has been allotted to IST Steel & Power, Gujarat Ambuja Cements and Lafarge, the Bhaskarpara block is with Electrotherm and Ultratech.
Till now 13 coal blocks out of the 29 discussed by the IMG have been de-allocated. The IMG has finished discussing of coal blocks allotted to private companies. Now the IMG will take up the coal blocks allotted to public sector units.
03:08 PM, Sep 20, 2012
Mumbai: Cement stocks, including those of ACC and Ambuja today lost ground, falling up to 6.3 per cent after competition watchdog CCI slapped a hefty Rs 6,307 crore penalty on 11 companies for price cartelisation. Shares of ACC tanked 5.17 per cent to Rs 1,191, while Ambuja Cements lost 5.18 per cent to Rs 162.70 and Jaiprakash Associates plunged 5.96 per cent to Rs 70.10 on the BSE. Among others,...
12:39 PM, Jun 22, 2012
Mumbai: The Competition Commission of India (CCI) imposed a $1.1 billion fine on Thursday against 11 cement companies for price-fixing, in the largest-ever penalty ordered by the increasingly assertive regulator. The CCI said the companies colluded to push prices higher by underutilising their plants and creating an artificial shortage of cement, the government said in a statement. UltraTech Cement, part of the diversified Aditya Birla Group, Holcim-controlled ACC and Ambuja...
06:10 PM, Jun 21, 2012