Cement News tagged under: Jaiprakash Associates
CRH eyes stake in Jaiprakash cement units, India19 July 2012, Published under Cement NewsCRH is said to be interested in buying a stake in Jaiprakash Associates cement plants in Gujarat and Andhra Pradesh, according to Indian press reports. Speaking to the Economic Times of India, a source familiar with the situation said: "The discussions between the two companies are in an advanced stage, but nothing has been finalised. Both sides are expected to meet in the last week of this month to give a final shape to the transaction. But it may go either way.” The AV Birla Group wa... |
Indian producers issued with record fine on price fixing21 June 2012, Published under Cement NewsEleven Indian cement producers have been issued a total fine of INR60bn (US$1.1bn) for price fixing, the highest ever fine issued by the country’s antitrust authority in its three-year existence. The Competition Commission of India (CCI) said in its ruling that the companies colluded to underuse their plants and create an artificial cement shortage. "The commission has found that the cement companies have not utilised the available capacity so as to reduce supplies and raise prices in tim... |
Jaiprakash in talks to sell one Indian cement unit11 June 2012, Published under Cement NewsJaiprakash Associates is in talks to sell one of its cement units to UltraTech Cement, Bloomberg reports. The company is seeking a valuation of about INR40bn for the division and the sale may help the company cut its debt. Jaiprakash Cement’s current debt stands at INR21,500 crore, while it has a market cap of INR14,500 crore. In a filing to exchanges in November the company said it is planning to separate its cement plants in Gujarat and Andhra Pradesh. Meanwhile, UltraTech Cement – Indi... |
Jaypee plans capacity hike, India18 April 2012, Published under Cement NewsIndia’s Jaypee Group is aiming to increase cement capacity to around 50Mta over the next five years from 33.5Mt, the Economic Times of India reports. Shiva Dixit, vice president of Jaiprakash Associates (the flagship company of the diversified Jaypee Group) told local press that “Our current capacity is 33.5Mt. By the end of this year, it will reach to 36Mt. We are evaluating various locations and are targeting to touch 50Mta cement capacity over next five years.” Jaiprakash is current... |
Jaiprakash March dispatches rise 32%05 April 2012, Published under Cement NewsJaiprakash Associates' cement dispatches in March 2012 has increased by 32% at 2.08Mt, as against 1.57Mt in the same month of 2011. Jaypee's cement business operates under the Jaiprakash Associates arm, which has a cement capacity of 28Mt. Jaiprakash Associates reported a fall of 12% in its net profit of INR205 crore in the third quarter of the current fiscal, mainly on higher interest payments. The company had registered INR233 crore net profit during the October-December quarter of l... |
Jaiprakash to hive off cement company, India28 February 2012, Published under Cement NewsJaiprakash Associates will hive off its cement plants and other units of the company to wholly-owned subsidiary, Jaypee Cement Corporation, the Economic Times of India reports. "We are pleased to inform that the equity shareholders and creditors of the company, in their respective meetings held on February 25, have duly approved the scheme of arrangement," Jaiprakash Associates said in a statement to the Bombay Stock Exchange (BSE). Cement is one of the major businesses of Jaiprakash Asso... |
Jaiprakash Associates 3Q net profit down 12%15 February 2012, Published under Cement NewsJaiprakash Associates' net profit fell by 12% to INR2.05bn (US$41.6m) in the third quarter of the current fiscal, mainly on higher interest outgoings. The diversified company, having interest in cement, real estate, construction and power among others, had made INR2.33bn net profit during the October-December quarter of last fiscal, it said in a filing to the BSE today. "The EBIDTA for the quarter is higher by INR860m over the corresponding quarter of previous year. However, due to high... |
Jaiprakash January dispatches rise 27%02 February 2012, Published under Cement NewsIndia's Jaiprakash Associates said cement dispatches rose 27 per cent from a year ago to 1.96Mt in January. The engineering and construction company has a cement capacity of 21.3Mta. |