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CCI imposes penalty of Rs. 12.35 crore to Bajaj Hindusthan Sugar Ltd

Posted On: 2018-09-19 20:43:11

Hon'ble Competition Commission of India (CCI) has vide its order dated 18.09.2018, has passed an order, against various sugar companies including Bajaj Hindusthan Sugar Limited for alleged contravention of provisions of The Competition Act, 2002 in respect of joint tender floated by Oil Marketing Companies (OMCs) for supply of Ethanol and imposed penalty of Rs. 12.35 Crore on the Company.

Based on the Company's own assessment and advice given by its legal counsels, Company believes that it has a good case for succeeding in appeal and will accordingly file its appeal against the Order before the appropriate authority in accordance with the law.

Shares of Bajaj Hindusthan Sugar Limited was last trading in BSE at Rs.11.57 as compared to the previous close of Rs. 11.23. The total number of shares traded during the day was 5284784 in over 6062 trades.

The stock hit an intraday high of Rs. 12.07 and intraday low of 10.8. The net turnover during the day was Rs. 60835405.


Source: Equity Bulls

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