Competition Comission of India which monitors fair competition has found the cement companies cartel in holding on to steady selling price and not reducing prices when there is a over supply. Accordingly it has levied the following penalties: Holcime ( ACC and Ambuja Cements) - Rs.2312 Crores JP Associates : Rs. 1324 Crores Ultratech : Rs.1175 Crores Madras Cements : 259 Crores India Cement: 187 Crores This penalty payment is likely to hit bottomline of companies. It is better to be cautious in the Q1 results which may include these figures.
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