Cement News tagged under: UltraTech Cement
UltraTech on track to raise capacity by 19% next year31 August 2012, Published under Cement NewsUltraTech, India’s leading cement producer, said it will raise capacity to 62Mt by next year, according to its chairman, as he warned that the outlook for the domestic sector remains challenging. "I believe the short-term prospects for the industry appear bearish. Regardless, over the medium to long term, the sector offers good growth potential," Kumar Mangalam Birla said in a statement released after the company's annual shareholder meeting. Rising input and energy costs have been squ... |
India's Ultratech Cement plans to raise INR2.5bn via bonds24 August 2012, Published under Cement NewsUltratech Cement is planning to raise INR2.5bn (US$44.84m) through five-year bonds at 9.15 per cent, a source with direct knowledge of the deal said on Thursday, according to Reuters. |
UltraTech Cement plans to raise INR2.5bn rupees via bonds16 August 2012, Published under Cement NewsIndia's UltraTech Cement is planning to raise INR2.5bn (US$44.84m) through five-year bonds at 9.15 per cent, a source with direct knowledge of the deal said on Thursday. HSBC Bank is the sole arranger to the deal, said the source. (Reuters) |
Cochin port attracts import investments, India13 August 2012, Published under Cement NewsCochin port is emerging as a major cement import hub with Malabar Cements expressing interest in setting up a 1Mta facility and Zuari Cements finalising a 30-year deal with the Cochin Port Trust (CPT) this week. Cochin Port is a major port on the Arabian Sea – Indian Ocean sea-route and is one of the largest ports in India. The port lies on two islands in the Lake of Kochi: Willingdon Island and Vallarpadam, towards the Fort Kochi river mouth opening onto the Arabian Sea. The Hindu newsp... |
UltraTech Cement eyes mega cement complex in Tamil Nadu, India31 July 2012, Published under Cement NewsUltraTech Cement is considering constructing a massive cement complex including a 5.5Mta integrated cement plant in Kurur, Dindigul district, Western Tamil Nadu, according to local press reports. Information accessed by the Times of India indicate that Samruddhi Cement, part of UltraTech Cement,is planning a 5.5Mta plant,4.5Mta clinker facility, 3 x 25MW captive power plants for the complex plus a 15MW waste heat recovery project at the location. The company is already in the process o... |
JP Morgan downgrades UltraTech Cement, India24 July 2012, Published under Cement NewsJP Morgan downgrades UltraTech stock to "underweight" from "neutral" citing "stretched" valuations. JP Morgan says Ultratech, India's leading cement producer, is trading at 10 times enterprise value/EBITDA and at 18 times P/E. The U.S. investment bank also lowers its target price to INR1400 from INR1250. Ultratech Cement on Friday reported a 14 per cent net profit for the April-June quarter. JP Morgan says prefers to invest in the Indian cement sector via Ultratech parent Grasim Industri... |
UltraTech Cement acquisition, India24 July 2012, Published under Cement NewsIndia’s number one cement producer UltraTech Cement announced on Tuesday it has signed an agreement with the shareholders of Gotan Lime Stone Khanij Udyog (GKUPL) to acquire 100% equity shares of GKUPL. With this acquisition, GKUPL has become a wholly owned subsidiary of the company. |
Higher sales and prices boost UltraTech first quarter23 July 2012, Published under Cement NewsIndia’s leading cement producer UltraTech Cement has reported a 14 per cent rise in net profit for the first quarter of the current fiscal (1QFY13) thanks to higher sales and increased prices The company reported on Friday that net profit rose to IN7.78bn (US$141m) from INR6.83bn in the same corresponding period of the previous year. Sales increased 17 per cent to INR50.75bn compared to INR43.52bn in 1QFY12. Input costs rose by 10% YoY mainly due to an increase in rail freight and a ri... |
India: mergers and acquisitions ahead?23 July 2012, Published under Cement NewsCRH has reportedly emerged as the latest company to enter the foray for a stake in Jaiprakash Associates' cement units in the Indian states of Gujarat and Andhra Pradesh, which could pave the way for the Irish building materials major to increase its presence in a country teeming with long-term potential. Elsewhere, the recent ruling by India's antitrust body on local cement producers could aid increased consolidation in the fragmented Indian cement sector. Earlier last month, Jaiprakash ... |
India first quarter market expectations20 July 2012, Published under Cement NewsIndian cement companies are expected to post higher net profits and sales in the first quarter of the current fiscal (April-June FY13) thanks to improved prices and higher demand. However, gains in profits for most cement companies will be impacted by rising costs owing to higher railway-freight charges. Besides, rupee depreciation will increase the cost of imported coal, a key raw material and fuel for the industry, according to brokerage Kotak Securities. Market expectations for... |