India Cements couldn't cement its position in the Market today. Know why

Shares of India Cements fell more than 4 percent after a committee looking into 2013's IPL-Spot fixing scandal banned its team Chennai Super Kings and one other from the game for 2 years.

India Cements fell 2.95 rupees to 91.30 rupees with 1.05 crore shares changing hands on the NSE. This compared with a 5-day daily average of 31.3 lakh shares.

A panel chaired by retired Chief Justice R M Lodha gave the following verdict:

It banned Chennai Super Kings and Rajasthan Royals from participating in the game for 2 years. The panel also banned for life one official each -- CSK's Gurunath Meiyappan and RR's co-owner Raj Kundra -- for life from Cricket for bringing disrepute to the game.

These two were involved in spot fixing in the 20-20 over matches held by IPL in 2013.

(Image credit: Indiatimes)