6 years ago

India Cements shares plung as its franchisee CSK ousted from IPL

Oneindia
Oneindia
Shares of India Cements plunged 6% on Tuesday, after its franchisee Chennai Super Kings was suspended from IPL for a period of two years by a Supreme Court panel probing the IPL spot fixing scandal. Chennai Super Kings, the most consistent team in the league, and Rajasthan Royals were on Tuesday suspended from the cash-rich cricket league for two years for betting activities of their key officials Gurunath Meiyappan and Raj Kundra during the 2013 season. Under the rules of IPL, the franchise of a team can be cancelled if a team official indulges in any act that brings the game to disrepute.

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