India mulls action against cement companies for cartelisation - ET Now

Jaiprakash Associates

09/03/2018 06:57

March 9 (Reuters) - The Indian government is considering
action against cement companies for cartelisation, news channel
ET Now tweeted on Friday quoting the union road minister.
    "Government is mulling action against cement cos for
cartelisation," ET Now quoted the Minister Of Road Transport And
Highways Nitin Gadkari as saying. http://bit.ly/2Gd9X8d
    The Competition Commission of India had imposed a fine on 10
cement companies and a trade body for price fixing in 2016. ACC
Ltd  ACC.NS , Ambuja Cements Ltd  ABUJ.NS , Ultratech Cement Ltd
 ULTC.NS  and Jaiprakash Associates Ltd  JAIA.NS  were among
those which were fined. 
    Separately, ACC and Ambuja Cements, which are owned by
Swiss-based LafargeHolcim Ltd  LHN.S , had last month put their
proposed merger on hold, due to constraints in implementation. 
     

 (Reporting by Tanvi Mehta in Bengaluru; Editing by Vyas Mohan)
 ((tanvi.mehta@thomsonreuters.com; +91 80 67494756 ; Reuters
Messaging: tanvi.mehta.thomsonreuters.com@reuters.net))