India Cements has dipped 5% to Rs 72.65 in morning trades on reports that the Central Bureau of Investigation (CBI) has summoned N Srinivasan, managing director of the company for questioning in connection with YSR Congress chief Jaganmohan Reddy's disproportionate assets case.
“India Cements had invested in Jaganmohan Reddy companies and allegedly received huge water allocations during the YSR regime,” the report suggests.
A combined 26,000 shares have changed hands on the counter in opening trades on both the exchanges.