Cement News tagged under: UltraTech Cement
UltraTech Cement appoints additional director, India18 April 2012, Published under Cement NewsUltraTech Cement’s board of directors have appointed M Damodaran as an additional director (independent) with effect from 16 April 2012, the company said in a statement to the Bombay Stock Exchange. |
Bihar cement prices rise as supplies fall, India09 April 2012, Published under Cement NewsCement prices in the Indian state of Bihar have risen by almost 50 per cent due to increased construction activity and the temporary shutdown of a nearby Prism Cement unit, the Economic Times of India reports. Bihar, situated in eastern India, has no major cement production facilities and relies on cement from plants located in Satna, MP, where prices have been rising due to heightened building activity. Compounding the issue is the shutdown of Prism Cement’s Satna unit which satisfies a ... |
Indian majors report March gains04 April 2012, Published under Cement NewsThree of India's leading cement producers, UltraTech Cement as well as Holcim interests, ACC and Ambuja Cement, all reported healthy gains in their respective March 2012 figures. UltraTech despatched 4.01Mt cement in March, 6.28% higher from previous year, a company release today said. Cement production during the month rose 4.5% YoY to 3.92Mt. On a monthly basis, despatches and production rose 14% and 13%, respectively. Ambuja Cement sold 2.17Mt of cement in March this year, up 12.4... |
UltraTech Cement in talks to buy northeastern plant22 March 2012, Published under Cement NewsUltraTech Cement, the largest cement producer in India, is in talks to buy north-eastern cement producer Adhunik MPS Cement’s Meghalaya plant for over INR7bn., according to reports from the Economic Times (ET) of India. The report said that the 1.5Mta cement facility will boost UltraTech Cement’s presence in the fast-growing but largely untapped northeastern market. A multinational cement producer is also reported to be interested in the unit, the ET notes. |
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... |
UltraTech Cement to take control of Star Cement?07 February 2012, Published under Cement NewsUltraTech Cement is looking to purchase its partner’s stake in Star Cement to take full control of the Dubai-based cement producer, sources familiar with the deal have said, adding to the rumour mill that other UAE producers are ripe acquistion targets. "The group has an option to purchase the local partner's stake when they bought the majority control company from Dubai-based ETA Star Group," the Financial Express quoted a source as saying. However, OP Puranmalka, director of UltraTech,... |
Indian companies post January rise03 February 2012, Published under Cement NewsUltraTech Cement, said shipments in January rose 11.2 per cent to 3.72Mt. Production increased 11.7 per cent to 3.78Mt the company, part of India's Aditya Birla Group, said in a statement. Meanwhile, Ambuja Cements, part of the Holcim Group, reported sales rose in January to 1.91Mt, up 3.8 per cent compared to the same month last year (1.84Mt). Production volumes also rose during the month to 1.9Mt compared to 1.84Mt in January 2011. |
Coal India cuts coal price due to cement opposition01 February 2012, Published under Cement NewsCoal India, rolled back on Tuesday an increase in prices under a new pricing policy due to opposition from cement and power sectors but will review the system after assessing its Jan-Mar quarter performance. Coal India decided this month to benchmark pricing for non-coking coal to gross calorific value (GCV) from the current useful heat value (UHV) based gradation. The move evoked protests from users in cement and steel sectors. When reporting its 3Q figures in mid-January, India’s lea... |
UltraTech 3Q net profit rises 93% on improved demand23 January 2012, Published under Cement NewsIndia’s largest cement producer, UltraTech Cement, reported a 93 per cent rise in 3QFY12 net profit thanks to a double-digit rise in cement demand but energy costs continue to weigh on the company's margins. However, the company says it is on-track with its expansion programme, namely two clinker plants which will raise capacity by 92Mta in just over a year's time. The Aditya Birla Group company reported that net sales rose 23 per cent to INR4572 crores compared to INR3715 in the correspo... |
India: caught in a down-cycle06 December 2011, Published under Cement NewsThese are important times for the Indian cement sector as the country’s cement producers see cement sales dip and energy costs squeeze margins. New capacity projects are being delayed as the oversupply situation becomes more apparent and under the current circumstances the industry may have to wait longer than anticipated for a much needed upturn. An overview of key developments in the Indian cement sector ahead of the NCB’s 12th International Seminar on Cement and Building Materia... |