Cement News tagged under: India
Zuari Cement recognised for marketing activities25 February 2013, Published under Cement NewsZuari Cement has won the 2012 Zee Business brand excellence award for Marketing Communications. This annual award is endorsed by the World Brand Congress & Asian Confederation of Businesses and entrants are judged by a jury. The award gives recognition to those brands and marketeers who have achieved success through innovative and effective marketing practices, with regard to particular circumstances of different industries, budgets and the diversity of marketing programmes.This year's... |
Sanghi Industries 2QFY13 sales up 26%22 February 2013, Published under Cement NewsSanghi Industries reported a 26 per cent rise in turnover for the second quarter of the year ended 31 December to INR286.3 crore. According to reports in the Business Standard of India, Sanghi Cement's net profit rose to INR21.6 crore in the second quarter as against a net profit of INR3 crore in the corresponding quarter of the previous fiscal. For the first half of the year, net profit stood at INR 39.8 crore against a net loss of INR 34.3 crore in the first half of the last year. Comme... |
Binani Industries plans to sell 40% stake in cement arm, India21 February 2013, Published under Cement NewsBinani Industries in talks to sell up to a 40 per cent stake in its subsidiary Binani Cement to raise capital to cut debt and expand cement capacities. The company is said to be in talks with potential financial investors such as JP Morgan and state-owned funds, according to latest reports by the Economic Times. Ernst & Young (E&Y), Braj Binani’s group banker for the transaction, has been in talks with prospective investors, two sources disclosed. In response, Sunil Sethy, executive v... |
CMA calls for a reduction in excise duty, India21 February 2013, Published under Cement NewsAhead of the government’s forthcoming Budget, the Cement Manufacturers Association of India has called for a reduction in the current excise duty on cement to bring it more in line with other core industries. It has also requested a revision to duties on imports of cement and on raw materials for cement production. The Economic Times of India published a statement by the CMA stating: “To encourage the cement industry and to bring it at par with other core infrastructure industries, the ex... |
HeidelbergCement India increases cement capacity to 6Mta19 February 2013, Published under Cement NewsHeidelbergCement confirmed yesterday that it has successfully completed the expansion of its clinker and cement grinding capacity in Central India. The plants are located in Damoh district (Narsingarh and Imlai facilities) in Madhya Pradesh and in Jhansi, Uttar Pradesh. Trial runs of the expanded plants were successfully conducted between November 2012 and January 2013 and the production capacities were now officially commissioned. Capital expenditure for the project amounted to €216m. W... |
India: JK Lakshmi hit by slower demand, higher costs18 February 2013, Published under Cement NewsJK Lakshmi has reported subdued performance for the third quarter of the current fiscal year due to high freight costs and flat growth in dispatches. Profits declined by 16 per cent to INR41 crore YoY in the quarter ending December 2012 and lower construction activity led to a 2.7 per cent increase in dispatches. Rising diesel and freight costs also negatively affected results and, due to lower demand, the company was unable to pass on costs to consumers. JK Lakshmi, which operates... |
India Cements looks to construct new line in Rajasthan15 February 2013, Published under Cement NewsIndia Cements is studying the possibility of expanding capacity in Rajasthan to cater for growing demand in the neighbouring states of Gujarat and Madhya Pradesh. Mr N Srinivasan, vice chairman and managing director, India Cements told Business Standard that the company is “examining whether we can expand the capacity at Rajasthan plant". The Rajasthan plant’s current capacity is 1.3Mta and the company is aiming to add another kiln line of similar capacity to serve the markets of Gujar... |
Temasek Holdings in line for Lafarge India stake?14 February 2013, Published under Cement NewsTemasek Holdings is reportedly among those shortlisted by Lafarge as a potential buyer for a minority stake in its Indian arm. Lafarge India plans to sell a 20-30 per cent stake to raise INR1325m (US$250m) to fund its INR6000 crore expansion, according to reports by the Economic Times (ET) of India. The sale of the stake is slated for completion by March. Lafarge has decided not to raise more debt to fund its capex but is instead looking at equity financing. Temasek Holdings is an inv... |
Railway projects arouse interest from Indian cement producers13 February 2013, Published under Cement NewsWith Indian railways showing a renewed focus on private partnerships, Jindal, Adani and a consortium of cement companies (UltraTech, Prism and Madras Cement) have been linked to several port connectivity projects, according to Business Standard (BS). The railway expects to raise around INR50,000m (US$928.1m) from the investment in port connectivity projects over the next five years. To begin with, it expects investment worth INR38,000m from the private sector for six port connectivity proje... |
Shiva Cement's wins Sedimentation & Water Management award13 February 2013, Published under Cement NewsShiva Cement's Khatkurbahal Limestone Mines has been awarded first prize in Sedimentation & Water Management for FY12-13 under the aegis of the Indian Bureau of Mines. Shiva Cement is engaged in manufacturing of cement and allied products. Its plants are located at Kalunga and Sundargarh in Orissa. The company has a combined installed capacity of 177,000tpa. |