Cement stks dip as CCI raids cement cos on price cartelisation allegations

The CCI has initiated an investigation against cement companies in India regarding alleged anti-competitive behaviour

Shares of cement companies were under pressure at the bourses on Thursday, falling by up to 5 per cent on the BSE on profit booking after the Competition Commission of India (CCI) raided cement companies on price cartelisation allegations.

Following the news report, UltraTech Cement, Ambuja Cements, ACC, Ramco Cement, Star Cement, Orient Cement, Dalmia Bharat, JK Cement and Birla Corporation were down between 3 per cent and 5 per cent on the BSE in intra-day trade. In comparison, the S&P BSE Sensex was down 0.64 per cent at 45,810 points.

Ambuja Cements and ACC in a regulatory