Cement News tagged under: India
Fitch rates Rain Commodities at 'Fitch A-(ind)'; outlook stable15 March 2012, Published under Cement NewsFitch Ratings has assigned India's Rain Commodities Limited (RCOL) a National Long-Term rating of 'Fitch A-(ind)'. The Outlook is Stable. However, ratings are constrained by volatility in cement prices and sector overcapacity. Fitch has taken a consolidated view of RCOL's cement and calcining businesses, both operated by its subsidiaries, for the rating purpose. While India's Rain Cement Ltd ('Fitch A-(ind)'/ Stable) holds the cement operations, RCOL's calcining business is operated in I... |
India reports rise dispatches14 March 2012, Published under Cement NewsIndian cement dispatches registered 16.29Mt in February 2012, an increase of 9.8 per cent on February 2011, data from the Cement Manufacturers Association (CMA), shows. In terms of month on month (MoM) growth, February dispatches edged ahead to 16.29Mt from 16.25Mt in January 2012. Production, meanwhile, reached 16.21Mt last month, representing an 8.9 per cent YoY increase (14.89Mt in Feb 2011). On a MoM basis, production slipped to 16.21Mt in February 2012 from 16.45Mt in January 2012. ... |
Grasim appoints managing director, India08 March 2012, Published under Cement NewsThe Aditya Birla Group of India on Tuesday appointed KK Maheshwari as managing director of Grasim Industries as the company prepares to grow its businesses in India and overseas. Maheshwari, who has been whole-time director of Grasim until now will assume charge as MD immediately, a post created for the first time in the history of the 65 year old company. "The Grasim board decided to have a managing director to assist the chairman in implementing growth plans for the company," Maheshwari ... |
Shriram EPC to buy 68% stake in Jayajothi Cement, India07 March 2012, Published under Cement NewsShriram EPC confirmed it would buy a 68 per cent stake in Sree Jayajothi Cements Ltd, along with its group companies, reports the Business Standard of India. The acquisition will be carried out by Shriram EPC and a special purpose vehicle floated by other Shriram Group companies. Last month the paper reported that the Shriram Group was planning to acquire a stake in the Andhra Pradesh-based cement producer by converting its dues into equity. Speaking to Business Standard, Shriram EPC m... |
Ambuja production rises 11.28%, India05 March 2012, Published under Cement NewsAmbuja Cements reported an 11.28 per cent rise in production in February 2012 to 1.99Mt from 1.79Mt in February 2011. Meanwhile, dispatches reached 2Mt compared with 1.77Mt the year before, representing a rise of 12.74 per cent. For the first two months of the current calendar year, cement production and dispatches were 3.9Mt and 3.92Mt, respectively compared with 3.64Mt and 3.61Mt in the same period of 2011. |
Mangalam Cement grinding plant project order, India05 March 2012, Published under Cement NewsFor its new cement grinding plant, Mangalam Cement Ltd. selected a grinding system from ThyssenKrupp Polysius. The new grinding plant is to be installed in Aligarh near New Delhi in the Indian state of Uttar Pradesh. It is to be a combi-grinding system consisting of POLYCOM high-pressure grinding roll with two 1060kW drive units, a SEPOL-PC high-efficiency separator and a 3.6m x 8m ball mill with a drive power of 1300kW. The grinding plant will have a rated cement output of 150tph. |
Cochin port invites tenders for new bagging plant, India05 March 2012, Published under Cement NewsThe Cochin Port Trust (CPT), India, has invited tenders for the establishment of a cement bagging plant, the Times of India reports. The port will lease six acres of land for a period of 30 years near the Q5 berth at Ernkaulam Wharf for the new plant. The berth has a draft of 10 meters and rail tracks pass very close to it. The new plant is set to become operational in two years, a port spokesman told the newspaper. Ambuja Cement already operates a bagging plant in the port area while... |
Jaiprakash to hive off cement company, India28 February 2012, Published under Cement NewsJaiprakash Associates will hive off its cement plants and other units of the company to wholly-owned subsidiary, Jaypee Cement Corporation, the Economic Times of India reports. "We are pleased to inform that the equity shareholders and creditors of the company, in their respective meetings held on February 25, have duly approved the scheme of arrangement," Jaiprakash Associates said in a statement to the Bombay Stock Exchange (BSE). Cement is one of the major businesses of Jaiprakash Asso... |
Pakistan cement exports forecast to grow27 February 2012, Published under Cement NewsPakistan cement exports in the first seven months (July 2011-January 2012) of the current fiscal year fell in terms of quantity but gained in price by US$4.33/t, data by the Pakistan Bureau of Statistics shows. The industry expects dispatches to Afghanistan and India to grow in the remaining months of the year. In the first seven months, exports amounted to 4.087Mt of cement and earned US$258.190m compared to 5.196Mt at US$256.618m in the corresponding period of last year. This represent... |
Jefferies starts India cement coverage24 February 2012, Published under Cement NewsJefferies has initiated coverage on the Indian cement industry with a buy rating on ACC, Grasim Industries, India Cements, UltraTech Cement, and hold rating on Ambuja Cements. "We believe India Cements has the highest earnings upside from both volume and price surprises.... Among the large caps, Ultratech looks the best positioned without a significant exposure to south," said Jefferies in a report on Thursday. The house says that it expects the next few years to be good for the cement... |