India Cements scrip slips down

Chennai, July 14 (IANS) Share prices of India Cements Ltd. slipped at the bourses on Tuesday following the Supreme Court-appointed Justice Lodha Committee’s verdict to suspend the Chennai Super Kings team from the Indian Premier League (IPL) for two years.

The Rs.10 face value scrip opened at Rs.94.55 at the Bombay Stock Exchange (BSE) and went down to Rs.88.25 during the morning trade.

The scrip later recovered and changed hands at Rs.91.50.

On Tuesday, the Lodha Committee suspended Chennai Super Kings for two years and also its former team official Gurunath Meiyappan, who was suspended for life from any cricketing activity.

Meiyappan is the son-in-law of N. Srinivasan, vice-chairman and managing director of India Cements, who is also chairman of the International Cricket Council.

The India Cements board has decided to hive off the Chennai Super Kings — a division — into a separate company.

The company earlier said the IPL team was instrumental in creating awareness about its cement brand in the market

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here