Asia / Oceania
Indian Cement shares up on favorable CCI ruling hope
Jun, 13 2012
(India) -- Shares in India's cement manufacturers rose on hopes for a favorable ruling from the Competition Commission of India.
The CCI is deliberating on cartelisation charges against Indian cement companies and whether to impose penalties as a result.
A ruling has been expected since last few months though it has not yet been released.
Traders are hopeful of leniency from the CCI, instead of more hefty penalties based on turnover or profits.
The CCI is probing alleged cartelisation by cement manufacturers. It may impose hefty penalties on the companies that are found guilty. These companied will be penalized once the investigation report is made public.
The CCI initiated investigation into ‘cement caterlisation’ over a year back and has now reached its final conclusion.
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