India Cements at near 4-mth low on CCI search

India Cements

23/12/2022 04:25

** India Cements's shares  ICMN.NS  fall as much as 3.3% to
211.50 rupees, lowest since Aug. 29, in a weak broader market
    ** Co said on Thursday that Competition Commission of India
officials visited their Chennai office to conduct search and
find out if any irregularities
    ** Co says it has not indulges in any irregularities
concerning CCI and does not apprehend any material impact
    ** About 856,267 shares change hands by 9:33 a.m. IST, 0.3x
30-day avg of ~3.1 mln shares
    ** All of the 7 analysts covering the stock have a "sell" or
"strong sell"; median PT is 180 rupees - Refinitiv data
    ** Stock last down 1.7%, cutting YTD gains to nearly 12%
 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))