Ambuja Cement shares up ahead of ruling on price fixing

Ambuja Cements Ltd gain on hopes a regulatory tribunal may rule in their favour.

Written by Reuters | Published:May 17, 2013 12:38 pm

India’s cement companies’ shares 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.

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