Cement shares up ahead of ruling on price fixing

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)