Cement News tagged under: corporate
Holcim rises 1.5% on high volatility and expanding price range09 September 2010, Published under Cement NewsHolcim traded between an intraday low of CHF63.50 and a high of CHF64.95. The price range has expanded in the last three days (from 90.0c three days ago to CHF1.50 today) which, accompanied by a price rise, is a bullish signal. The stock price rose 95.0c (or 1.5%) to close at CHF64.50. Compared with the Swiss Market index SMI Price index, which rose 36.9 points (or 0.6%) on the day, this was a relative price change of 0.9%. Moving average price (MAP) [with equal weightage to prices at close... |
Heidelbergcement rises on high volatility and expanding price range09 September 2010, Published under Cement NewsHeidelbergcement traded between an intraday low of €34.12 and a high of € 35.42. The price range has expanded in the last two days (from € 1.0 two days ago to € 1.30 today) which, accompanied by a price rise, is a bullish signal. Today its volatility (highest price minus lowest price/lowest price) of 3.8% was 3.6 times the average daily volatility of 1.1%, up from 2.9% on Tuesday and 2.8% on Monday. A price rise on high volatility is a bullish signal. The stock price rose 27.0 cents... |
Binani Cement: seeking to buy overseas company08 September 2010, Published under Cement NewsBinani Cement Ltd is looking to acquire a cement company overseas to expand its existing portfolio of overseas manufacturing facilities, a senior company executive said in a recent interview. "We are looking for cement companies overseas with at least 2Mta of capacity, if it comes at the right price," said Vinod Juneja, managing director, Binani Industries. Juneja said the company also plans to set up a manufacturing plant in Africa. "We are looking at South Africa, Uganda and other countr... |
Cemex outlook changed to stable from positive by S&P08 September 2010, Published under Cement NewsCemex had the outlook on its debt revised to stable from positive by Standard & Poor’s Ratings Services. S&P said it changed the outlook on Monterrey, Cemex’s ratings after the company reported “weak” second- quarter earnings and lowered its 2010 profit forecast. Cemex’s debt rating is unchanged at B, five levels below investment grade, according to a statement from the rating company. “The outlook action reflects our view that Cemex’s operating and financial recovery will take longer than... |
Buzzi cut to "reduce" at Nomura Holdings08 September 2010, Published under Cement NewsBuzzi Unicem SpA, Italy’s second- biggest cement maker, was downgraded to “reduce” from “buy,” at Nomura Holdings Inc. The brokerage said that Italcementi SpA, Italy’s largest cement maker, “now offers a better valuation risk reward” than Buzzi. The brokerage lifted its recommendation on Italcementi to “neutral” from “reduce,” according to a research report today. |
Promoters up stake in Binani Cement07 September 2010, Published under Cement NewsThe promoters of Binani Cement have invested Rs130 crore for buying back 1.45 crore shares at Rs90 per share to increase their stake to 69.9 per cent from 64.9 per cent. The company has communicated with the Securities & Exchange Board of India regarding the development. It had received 639 applications for 1.96 crore shares for the buyback offer. |
Andhra Cements allots shares, India07 September 2010, Published under Cement NewsAndhra Cements Ltd said on Monday it has allotted 7 million shares to HDFC and IDFC on a preferential basis at 24 rupees each, a premium of nearly 26 per cent to Monday’s closing price. It allotted 3.1 million shares to HDFC and the remainder to IDFC, the cement maker said in a statement to the Bombay Stock Exchange. |
Nigeria’s Dangote seeks merger with Benue Cement07 September 2010, Published under Cement NewsNigeria’s biggest cement producer Dangote Cement has applied to the Securities and Exchange Commission (SEC) to merge its operations with Benue Cement , the commission said on Monday. The deal could involve listing the new entity, which would be Nigeria’s first new public share offering since a 2008 stock market crash and could produce one of the country’s largest companies by market capitalisation, analysts said. Dangote Cement is the 100 percent owner of Obajana Cement, the country’s bigg... |
Prosperity acquires 25% interest in Liaoning Changqing Cement03 September 2010, Published under Cement NewsSintex International Holdings Limited, an indirect wholly-owned subsidiary of Prosperity Minerals Holdings Limited, has acquired a 25% equity interest in Liaoning Changqing Cement Co., Limited, a China-based cement company, from Liaoning Yan Zhou Zhu Xing Cement Co. (Liaoning Yan) for CNY100m (US$14.63m) in cash. |
Exane BNP Paribas maintains rating on Italcementi03 September 2010, Published under Cement NewsExane BNP Paribas affirmed on Thursday a "neutral" rating on the stock of Italcementi, keeping the cement producer’s share price target at EUR 7.00. The bank deems the low evaluation of Italcementi’s shares is making them attractive. Yet, the company should expect low profits as a result of the less favourable geographical mix. |