REUTERS - Shares in cement companies such as Ambuja Cements Ltd gain on hopes a regulatory tribunal may rule in their favour as they challenge price collusions charges from the Competition Commission of India.
A judgement on the case pitting cement companies and CCI is expected later in the day, as per Competition Appellate Tribunal's website.
Eleven of the country's biggest cement companies were handed a record fine by the CCI in June, which found them guilty of colluding to push up prices by underusing their plants and creating artificial shortages.
Ambuja Cements gains 2.7 percent, while ACC Ltd is up 2.2 percent and UltraTech Cement Ltd rises 1.3 percent.
(Reporting by Abhishek Vishnoi)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app