Cement News tagged under: india
Cement companies asked to unload product from freight trains08 April 2020, Published under Cement NewsIndian cement companies are being asked to unload cement bags from freight trains so they can be used for essential commodities, according to the Deccan Herald. Reports suggest that around 300 trains full of cement bags are lying idle, as the construction business comes to a standstill amid the country’s lockdown period. Since railway officials had waived off demurrage fees and wharfage charges during the crisis, the companies were not losing any money. However, the trains are now in deman... |
Indian Saurashtra Cement resumes cement production in Gujarat06 April 2020, Published under Cement NewsAs the impact of COVID-19 appears to be subsiding in India, the domestic cement industry is planning to resume cement production with the state government's permission under all possible precaution measures. Saurashtra Cement has informed Bombay Stock Exchange Ltd on 5 April that the company has received permission from the state government of Gujarat in accordance with the guidelines of the central government. India's federal government said that production units with the need for a continu... |
Ambuja Cement of India profit grows in FY1902 April 2020, Published under Cement NewsAmbuja Cement Ltd of India has reported an increase in total income of 3.1 per cent and profit after tax (PAT) advance of 2.8 per cent during FY19, despite an increase of 0.6 per cent in operating expenses, according to detailed stand-alone financial result released recently. The total income increased to INR120.94bn (US$1.586bn) in 2019 from INR117.32bn in the year-ago period. PAT reached to INR15.29bn in 2019 from INR14.78bn in 2018. Operating expenses increased from INR94.65bn in 2018 t... |
Indian cement dealers expect volumes to decline 35-40%31 March 2020, Published under Cement NewsFollowing the impacts of COVID-19, Indian cement dealers are expecting volumes for March to decline by 35-40 per cent YoY and April to be a wash-out, according to The Financial Express. Volumes had been reportedly growing at 10-12 per cent YoY in the east, and 4-5 per cent YoY in the west and central regions. However, cement dispatches have stopped since 21 March and all major cement plants are now shut. Volume loss from the nationwide lockdown is estimated to be around 40 per cent in March... |
Indian lockdown leaves plant staff stranded31 March 2020, Published under Cement NewsFollowing the Indian lockdown as a response to the COVID-19 outbreak, Ramco Cements has stopped production at its plant in Haridaspur, Jajpur. However, around 400 workers from other states such as Jharkhand, West Bengal and Bihar allegedly remain stranded inside the factory, according to The Pioneer. The issue has now been raised with company management and the appropriate District Collector. |
Indian cement manufacturers take precautions against COVID-1925 March 2020, Published under Cement NewsIndia’s cement manufacturers are taking precautions against the spread of COVID-19. JK Cement Ltd is working with a reduced workforce, maximising video-conferencing and minimising contact. As a result of government policy, it has also announced which of its plants will now suspend production. JK Cement facilities at Nimbahera and Mangrol, both situated in Chittorgarh, Rajasthan, will close. Elsewhere, units at Gotan (Nagaur, Rajasthan), Jharli, (Jhajjar, Haryana), Katni (Madhya Pradesh) a... |
Udaipur Cement of India shuts plant due to Coronavirus epidemic24 March 2020, Published under Cement NewsUdaipur Cement Works Ltd (UCWL) of India has informed Bombay Stock Exchange (BSE) on 23 March that operations of the company's plant at Udaipur have been temporarily closed untill further notice as per the directions of the State Government and as safety measure against spread of the COVID-19 virus. A bourse filing of company adds that decision on resuming operations will depend on further directions of the Government. Udaipur Cement Works Limited, (formerly known as JK Udaipur Udyog L... |
Shree Cement to shut all production facilities in Rajasthan24 March 2020, Published under Cement NewsIndia’s Shree Cement has announced that it is undertaking measures to shut down all of its Rajasthan-based plants until 31 March 2020, or further notice, according to a statement. The news follows the Government of Rajasthan issuing a direction for the closure of all production facilities in the state to control the community transmission stage of COVID-19. |
Dalmia Bharat announces share buy-back scheme24 March 2020, Published under Cement NewsThe board of India’s Dalmia Bharat Ltd has approved a proposal to buy back shares worth up to INR5bn (US$65.79m). It intends to buy no more than 71,42,857 shares at a maximum price of INR700 per unit. The shares will be purchased from the open market through the National Stock Exchange of India and BSE Ltd, according to a statement. |
Coronavirus uncertainty likely to flatline Indian cement prices23 March 2020, Published under Cement NewsDue to the uncertainty caused by the coronavirus in the Indian construction industry, cement prices are likely to stagnate in the country, according to industry sources and sector analysts. “Coronavirus’ impact is not felt as yet in construction activity. It is unlikely to be affected in the near term unless there is a major economic slowdown all across," Sandip Ghose, chief operating officer at Birla Corp told Business Standard. “There may not be an increase but prices are expected to rem... |