Cement News tagged under: India Cements
India Cements to develop Coromandel limestone26 August 2016, Published under Cement NewsIndia Cements has proposed the development of the Coromandel limestone mine in Chilamkur and Kalamalla, Mandal Yerraguntla, Andhra Pradesh. The project represents an investment of INR1650m (US$24.6m), including the cost of the land. The 413ha site would yield around 3Mta of limestone, which the company would use for captive consumption at a new 2Mta greenfield clinker plant, located next to an existing plant at Chilamkur. The limestone will be excavated by conventional opencast mechanised... |
India Cements: 1Q16 EBITDA edges up to INR2.05bn19 August 2016, Published under Cement NewsIndia Cements saw its net sales slip to INR12.02bn in April-June 2016 from INR12.12bn in the corresponding period of the previous year. The company's EBITDA for the quarter rose to INR2.05bn from INR2bn in 1Q15. While volumes were higher YoY, in terms of MoM trend, tonnages were lower. Elections in Tamil Nadu and an easing of price during April and May impacted the sales. However, pricing has picked up in June and July, according N Srinivasan, India Cements' vice-chairman and MD. Durin... |
India: Cement stocks rise as demand recovers14 April 2016, Published under Cement NewsIndian cement manufacturers are set to continue the strong performance which has seen their stocks outperform the BSE Sensex by a factor of ten over the past month. In this period, the Economic Times reports, India Cements’ shares are up 23 per cent, ACC is up 18 per cent, JK Cement and JK Lakshmi Cement are up 16 per cent, Ramco Cements is up 14 per cent and Ambuja Cements is up 12 per cent. The market as a whole, as tracked by the Bombay Stock Exchange’s Sensex index, is up just 1.2 per... |
India: two new cement plant sites could go to auction05 January 2016, Published under Cement NewsTwo proposed cement plants at Gumma, Chaupal, in the Shimla district and at Nauradhar in the Sirmaur district of Himachal Pradesh, India, could be sold via public auction. The mining wing of the Industry Department is planning to seek cabinet acceptance before bids can be invited for the two sites, but any cement plant allotment can be open for auction, according to the amended Mineral Regulation Development Act (MRDA). The limestone deposits at Nauradhar have a high level of purity and a... |
Government to cancel India Cements plant25 September 2015, Published under Cement NewsThe government of India has decided to cancel the allotment of a cement plant given to India Cements in Gumma, Shimla, Himachal Pradesh. The decision was taken after India Cements expressed its unwillingness to start works, according to local media. "It has been decided to cancel the allotment as the company is no longer keen to set up the plant and they have failed to show any progress in the years since the allotment was made," said Mukesh Agnihotri, industry minister. He added that the ... |
India Cements reports low demand in 2Q1513 August 2015, Published under Cement NewsSouth India's largest cement maker by volume, The India Cements Ltd, on Wednesday said its profits for the quarter ended June 2015 were INR4010m (US$617.2m) from a loss of INR2960m (US$25.5m) in the comparable quarter last year. Cement producers in south India have previously found profits hard to come by with excess capacity and falling demand. "It's a quarter where price stabilisation happened and a slightly better quarter, but poor demand," said MD of ICL, N Srinivasan. He said hat the... |
Trinetra shareholders give green light for merger31 March 2015, Published under Cement NewsShareholders of Trinetra Cement Ltd have approved the scheme of amalgamation and arrangement between the company and Trishul Concrete Products Ltd with India Cements. “The Scheme was duly approved by the Secured Creditors of the Company with requisite majority," the company said in a filing to stock exchanges. India Cements announced in May last year that as part of restructuring, it planned to merge its subsidiary Trinetra Cement Ltd and sell land near its plants in Tamil Nadu and... |
India Cements posts third-quarter net loss12 February 2015, Published under Cement NewsIndia Cements Ltd posted a net loss for third quarter, compared with a profit a year ago, dragged down by muted cement sales in the south. The Chennai-based firm posted a net loss of INR116.8m, compared with a net profit of INR4.2m a year ago. The company registered flat revenue growth at INR10.359bn crore for the three months to December as against INR10.365bn crore a year ago. CSK transfer Meanwhile, the board of India Cements yesterday approved a proposal to transfer the owner... |
India Cements board approves funding proposal29 December 2014, Published under Cement NewsThe Board of India Cements has approved a proposal to raise INR500 crore through qualified institutional placements or foreign currency convertible bonds to meet capital expenditure, a senior company official has said. "The Board has approved the proposal for raising an amount not exceeding INR500 crore by way of issue of QIP/FCCB/GDR or other Securities to improve the leverage and for meeting normal capital expenditure," N Srinivasan, vice chairman and managing director of India Cements ... |
India: CCI closes case against 11 cement companies24 November 2014, Published under Cement NewsThe Competition Commission of India (CCI) has closed a case of alleged cartelisation among cement companies for lack of evidence. An anonymous reference had alleged that the cement producers had increased prices by INR75/bag (US$1.21) within the period of a month, according to HN Mint news service. The companies were named as Penna Cements, India Cements, Ramco Cements, Bharathi Cements, Dalmia (Bharat) Cements, Bhavya Cements, Zuari Cements, Ultratech Cements, Jaypee Cements, KCP Cements... |