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, Ultratech Cements tumbled 5.7 per cent, India Cements was down 6.39 per cent, Madras Cements fell 5.63 per cent, JK Cement lost 5.63 per cent and Century Textiles slipped 4.63 per cent.
The maximum fine was imposed on Jaiprakash Associates at Rs 1,323.6 crore followed by Aditya Birla Group's Ultratech Cements (Rs 1,175.49 crore), Ambuja Cements (Rs 1163.91 crore) and ACC (Rs 1,147.59 crore)....more
12:39 PM, Jun 22, 2012