Cement News tagged under: UltraTech
UltraTech Cement02 December 2013, Published under Cement NewsIndian market leader, UltraTech Cement Ltd, is bracing itself for increased pressure on margins as the cost of raw materials and coal continues to rise while demand remains subdued. Further rises in diesel prices and an ongoing weakening of the rupee have added to the torment. As a result, cement prices have been increasing since the end of the monsoon season in September, with wholesale prices up by between INR5 (US$0.08) and INR40 (US$0.64) per bag in the north, west and east regions. ... |
UltraTech Cement28 October 2013, Published under Cement NewsUltraTech Cement’s performance in 3Q13 has fallen well below expectations with net profits tumbling 52 per cent YoY to INR2.6bn (US$42m). This marks the biggest drop in profit for the company since 2010. Rising input and energy costs have been blamed for putting pressure on margins for many of India’s cement companies. Low demand also remains a concern in an economy that is growing at its slowest pace for a decade. “Logistics and raw material costs continued to rise given the high diesel... |
UltraTech on verge of signing Jaiprakash Associates deal11 September 2013, Published under Cement NewsUltraTech Cement is reportedly on the verge of signing a deal with Jaiprakash Associates to acquire the latter’s cement assets in the Indian state of Gujarat. Following months of negotiations, the agreement is expected to be signed today, according to local press speculation. Both Jaypee and UltraTech are expected to make the announcement simultaneously in Delhi and Mumbai, respectively. The Gujarat units have a capacity of 4.8Mta and will help increase UltraTech’s presence in western Indi... |
UltraTech Cement02 July 2013, Published under Cement NewsUltraTech Cement saw its shares lose seven per cent of their value in the first week of June as the seasonal monsoon rains arrived, which are due to last until September. This will do little to cheer up India’s cement producers who have already seen a flat first quarter with no growth in sales and little prospect of demand picking up. UltraTech was one of a number of producers also reporting flat EBITDA/t during 1Q13. Volumes declined by one per cent YoY, significantly below the government’s... |
Operations resume at Awarpur plant, India15 March 2013, Published under Cement NewsOperations have resumed at UltraTech’s Awarpur cement plant in the state of Maharashtra following a temporary closure due to strike action. The 3.6Mta has been shut since 14 March 2013 due to worker’s unrest but were restarted yesterday morning. UltraTech said in a filing to the stock exchanges that "operations at the aforesaid unit [Awarpur Cement Works] have since resumed from March 14, 2013." India's largest cement company had said on 1 March that the stoppage would not have a majo... |
Mixed bag of Q3FY13 earnings for Indian cement producers10 January 2013, Published under Cement NewsA weakness in cement prices and softening demand in the region is expected to hit Q3FY13 earnings of some of India’s cement producers. Only ACC and Ambuja are forecast to record a YoY earnings growth, says research house Jefferies. Grasim, ICEM and UltraTech are predicted to see more modest earnings. Ambuja should benefit from a 1.2 per cent YoY rise to 5.8Mt in cement and clinker volumes. Average realisation is anticipated to improve nine per cent YoY, largely cancelling out the two per ... |
BoA-Merrill upgrades India's cement stocks to 'buy'14 December 2012, Published under Cement NewsBank of America-Merrill Lynch upgrades its rating across cement stocks to 'buy' from 'neutral' or 'underperform', saying capacity will lag demand, while valuations are below previous up cycles. The investment adds general elections in the next 18 months bode well for the Indian cement sector given the demand-GDP multiplier expanded in four out of the five previous election years. Among the major cement manufacturers, Bank of America upgraded UltraTech Cement and Ambuja Cements to 'buy'... |