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As CCI conducts Searches In The Chennai headquarters, Shares Of India Cements decline by 3%

The annual capacity of India Cements is 15.5 million tonnes. It brought in Rs 4,713.11 crore in income for the fiscal year that ended on March 31. The cement producer runs two grinding units, one in each of Tamil Nadu and Maharashtra, along with eight integrated cement plants in Tamil Nadu, Telangana, Andhra Pradesh, and Rajasthan.

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As CCI conducts Searches In The Chennai headquarters, Shares Of India Cements decline by 3%

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  1. Search here ...  As CCI conducts Searches In The Chennai headquarters, Shares Of India Cements decline by 3%   Home - Markets - As CCI conducts Searches In The Chennai headquarters, Shares Of India Cements decline by 3%  Markets  December 25, 2022       

  2. India Cements reported on Thursday (December 22, 2022) that some CCI investigators had visited its Chennai headquarters at approximately 11:30 am and were “searching” for any anomalies.  After CCI inspectors visited India Cements’ Chennai headquarters and launched an investigation to see whether any violations involving the competition commission had happened, the company’s shares fell 3% on Friday (December 23, 2022).   Even as the corporation claimed it had not broken any CCI laws, the stock price dropped.  Following the news, the stock dropped 3.22% to a low of Rs 211.60 on the BSE. As a result, the stock’s gain for the year as a whole has decreased to 6%.  India Cements on Thursday (December 22, 2022) responded to a request for clari몭cation from stock exchanges by stating that “certain o몭cials of Competition Commission of India (CCI)” had visited their Chennai o몭ce at around 11:30 am and were “searching” to see if any irregularities involving “Competition Commission” had taken place.   The statement read that CCI emphasise that the company have not engaged in any irregularities regarding “Competition Commission.”  Conclusion  India Cements said that in the past, the business swiftly informed the exchanges of any developments, including those related to the Competition Commission. They do not anticipate any major impact on the 몭rm because they have not broken any CCI Regulations.  The annual capacity of India Cements is 15.5 million tonnes. It brought in Rs 4,713.11 crore in income for the 몭scal year that ended on March 31. The cement producer runs two grinding units, one in each of Tamil Nadu and Maharashtra, along with eight integrated cement plants in Tamil Nadu, Telangana, Andhra Pradesh, and Rajasthan. 

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