Cement News tagged under: india
JSW Cement sets up new slag cement plant, India30 July 2012, Published under Cement NewsJSW Cement has established a 5Mta slag cement plant at Nandyal in Kurnool district, the slag for which is supplied by the company's steel plant in Karnataka. RC Sodani, CEO and director of JSW Cement told Business Line India that at the product is being sold at a slightly lower price than OPC, stating: "Our cement unit is in production or the past six months and the market response has been very encouraging so far." Currently the company sells slag cement in the southern states and parts ... |
JP Morgan remains underweight on Ambuja Cements30 July 2012, Published under Cement NewsJP Morgan remain Underweight on India's Ambuja Cements. Key risks to the price target as per JP Morgan is a sharp recovery in cement demand to help drive higher than expected volume growth (and therefore utilisation levels) and reduction in coal costs leading to decline in operating cost per tonne. "Demand has not been particularly strong in the last two months, but cement prices have moved up across most markets in June and July. Lack of rains in the monsoon is positive for cement dema... |
ACC reports 26 per cent net profit rise27 July 2012, Published under Cement NewsACC of India reported a rise of 26.33% in consolidated net profit to INR4.15bn for the quarter ended June 30, 2012 as compared to INR3.28bn in the same period last year. Total consolidated income for the company, which is 50.3 per cent owned by Holcim, increased by 15.13% to INR29.59bn for the quarter ended June 30, 2012 from INR21.90bn in the year ago period. Net sales rose 14.95% to INR29.19b for the quarter compared to INR25.39bn in the same period last year. |
Pakistan cement exporters earn US$499m in FY2011-1225 July 2012, Published under Cement NewsPakistan cement manufacturer and exporters during FY2011-12 (July-June) exported 8.257Mt of cement and earned US$498.909m compared to 9.299Mt at US$457.448m in corresponding period last year, according to data released by Federal Bureau of Statistics. This shows that cement exports fell by 11.21 per cent in terms of quantity but rose 9.06 per cent in dollar value over the corresponding period last year, respectively However, on Pakistan rupee terms, exports increased significantly by 14.... |
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 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... |
Four Indian plants force to close on alleged environmental violation20 July 2012, Published under Cement NewsFour cement plants in the Indian state of Chhattisgarh have been ordered to shut down on alleged violation of air pollution controls norms. The Chhattisgarh Environment Conservation Board (CECB) told Business Line India that two UltraTech Cement plant, one Ambuja Cement and one Lafarge plant have all be closed for over a week now. The four units, all situated in Baloda Bazar district, have a total capacity of 10Mta. CECB member secretary, Mr Narsimha Rao, said there were charges of viola... |
Sagar Cements net profit falls 77%, India19 July 2012, Published under Cement NewsSagar Cements Ltd’s net profit declined 77 per cent at INR 4.1 crore in the first quarter of FY12-13 compared to INR 18.1 crore in the year-ago period. Revenues of the Hyderabad-based company almost remained flat at about INR150 crore. “The operating environment for cement companies thus far has been challenging. With increasing power and fuel costs, margins are being impacted,” Mr Sreekanth Reddy, Executive Director, Sagar Cements said in a release. |