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Adani Cementowned by Ambuja Cement And accThe industry has walked out of lobby group Cement Manufacturers Association (CMA), which represents all the big cement players in the country, the people said.
it comes after Adani Group The company had a different opinion on a number of issues with the CMA, as the people cited above said without further clarification.
Both Ambuja Cements And acc It had stopped sharing production and sales data with the CMA a few years ago and was not an active member of the association, said an analyst at a domestic brokerage, who did not wish to be quoted.
The CMA itself stopped actively collecting data after India’s competition watchdog accused the organization of being part of a cartel that illegally controlled cement prices.
“It is possible that this is just a procedural thing to ensure that they are not involved in any more cases that may come up in the future. It could be a precautionary measure,” he added.
Both Adani Group Till press time, CMA did not respond to queries sent by ET.
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