Cement News tagged under: JK Cement
India: five cement producers to appeal the CCI order06 February 2017, Published under Cement NewsFive of the seven cement companies which were fined by the Competition Commission of India (CCI) in January, for alleged bid rigging of a 2012 tender put out by the Haryana government, will appeal to the Competition Appellate Tribunal. Shree Cement, JK Cement, Ambuja Cements, ACC Ltd and JK Lakshmi Cement will contest the CCI order as they are of the view that they have a ‘good case for succeeding in the appeal.’ Other companies such as UltraTech Cement and Jaiprakash Associates are curren... |
India: Seven cement firms fined for bid-rigging20 January 2017, Published under Cement NewsThe Competition Commission of India (CCI) has imposed fines totalling more than INR2bn (US$30m) on seven cement firms it found guilty of colluding in their responses to a 2012 tender from Haryana state, Indian media reports. The companies have each been fined 0.3 per cent of their average annual turnover for the past three years. Ultratech faces the largest penalty, at INR683m – around a third of the total. The other firms fined were Jaiprakash Associates, ACC, Ambuja Cements, Shree Cemen... |
India: JK Cement net profits climbs 182%01 November 2016, Published under Cement NewsOn a stand-alone basis, JK Cement’s net profit was reported at INR410m (US$6.14m) for the July-September quarter, a 182 per cent increase from the INR145.4m net profit recorded in the same period last year. Stand-alone total income for the period under review increased by seven per cent to INR10.76bn, up from INR10.08bn in the same period last year. Total expenses registered higher during the quarter, reaching INR9.61bn. Total expenses for the same period last year were reported at INR9.4... |
India: production halts at JK Cement Muddapur plant29 September 2016, Published under Cement NewsJK Cement have announced that its 3Mta plant in Muddapur, Baglakot, India, has temporarily ceased operations. The clinker silo roof unexpectedly caved in, causing steel structural supports and a clinker conveyor drive station to fall into the silo. The decision to temporarily stop production was made for safety reasons and to avoid any collateral damage. Production and dispatch will be resumed as soon as possible once the debris has been removed from the clinker silo and any necessary rep... |
Indian cement producers to appeal CCI fines02 September 2016, Published under Cement NewsLafargeHolcim, India Cements and Ramco Cements have said that they will appeal against yesterday’s ruling by the Competition Commission of India (CCI) which levied fines totalling INR67bn (US$1bn) against 11 firms, the Press Trust of India reports. Four of the other affected companies – UltraTech, Shree Cement, Jaiprakash Associates and JK Cement – have said they will seek legal advice and may subsequently submit appeals of their own. LafargeHolcim has said it believes it has a strong ... |
Competition Commission of India imposes US$944m fine for cartelisation01 September 2016, Published under Cement NewsThe Competition Commission of India (CCI) has levied a fine of INR63.2bn (US$944m) on 10 cement companies whom it accuses of conspiring to fix prices in contravention of competition law. In addition, the Cement Manufacturers Association has been ordered to pay a INR7.3m fine. Of the 10 companies, four – Jaiprakash Associates, UltraTech, Ambuja Cements and ACC – will bear the brunt of the penalties, accounting for 76 per cent of the total fine. The other firms fined today are Lafarge, Cent... |
JK Cement: white cement demand growing?24 August 2016, Published under Cement NewsAccording to JK White Cement executives, white cement has witnessed an increase in demand over the past few years. In a statement the company said, "In the modern construction world, the demand and requirements for aesthetics undergo rampant changes. And to accommodate them, we at JK White Cement have always provided with products that best fit to these ever changing demands.” An increased demand for white cement could be attributed greater importance being placed on the aesthetics of con... |
India: JK Cement quarterly results08 August 2016, Published under Cement NewsCompared to its performance in the corresponding quarter last year, JK Cement Ltd reported significant growth in both net profit and net sales. The company reported a standalone net profit of INR608.5m (US$9.1m)for the quarter ended 30 June 2016, in comparison to just INR10.5m (US$157,275) last year according to a BSE filing made by JK Cement. The company’s net sales increased to INR8.87bn (US$132.8m). JK Cement is the second-largest manufacturer of white cement in India, with a capaci... |
India: JK Cement annual profits down 35.3%31 May 2016, Published under Cement NewsThe Times of India reports that JK Cement’s standalone net profit for 2015-16 was down 35.3 per cent on the previous year to INR1.015bn (US$15.1m). Quarterly profits for the period ending 31 March 2016 were up slightly YoY at INR705.6m (US$10.5m). Like most Indian producers, JK Cement’s performance appears to have suffered from negative pricing pressures. Revenues were up for both the year and the final quarter, implying higher volumes than for 2014-15, but despite this profits suffered. ... |
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... |