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India Cements’ share price is down 6.7 per cent at Rs 243.75 on the BSE.
The ED search was conducted to probe any irregularities concerning the
“Certain officials of the Enforcement Directorate visited our corporate office in Chennai during 31.01.2024 and 01.02.2024 and conducted a search to find out any irregularities concerning FEMA. We have provided/undertaken to provide all the clarifications/documents sought by them,”
“We do not anticipate any material impact on the company with regard to the aforesaid investigation,” it added.
As per a message by N. Srinivasan, Vice Chairman and Managing Director, on the company website said, “India Cements is one of the leading cement manufacturing companies in
“The Company’s vision is to create value on a sustained basis for all stakeholders through lofty standards of transparency, accountability and leadership in cement manufacture. The company has stood the test of time and has rapidly grown from two plants and 1.3 million tonnes capacity in 1989 to eight integrated plants and two grinding units with a total capacity of 15.5 million tonnes.”
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