Cement News tagged under: ACC

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Credit Suisse maintains negative outlook for large Indian cement companies

06 June 2012, Published under Cement News

Credit Suisse maintains negative outlook for large-cap cement stocks, due to expensive valuations and low growth prospects, the Economic Times of India reports. Cement prices in May declined by 2-6 per cent across regions in India, which is an unseasonal trend, Credit Suisse said. ??Demand was also cited to be weak, which is however, contrary to the double digit volume growth posted by Ultratech Cement and Ambuja Cement in May. Any adverse ruling by monopoly regulator on cartelisation c...

ACC, Ambuja see spurt in cement production in April

04 May 2012, Published under Cement News

Leading cement producers ACC and Ambuja Cement reported the growth in cement production for the month of April 2012. ACC and Ambuja Cements reported the production at 2.17Mt and 1.91Mt, respectively, in their separate filings to the Bombay Stock Exchange. During the year ago period, ACC and Ambuja had reported the production at 2.06Mt and 1.81Mt, respectively. Besides, the dispatches at the two companies also inched up during the quarter. ACC reported the dispatches at 2.0Mt during the mo...

ACC first-quarter hit by one-time depreciation charge

19 April 2012, Published under Cement News

ACC Ltd Thursday said its January-March net profit fell sharply, hit by a one-time depreciation charge of INR3.35bn. ACC, a unit of Holcim Ltd, posted a net profit of INR1.52bn, down from INR3.50bn a year earlier. Sales rose 19 per cent to INR30.15bn from INR25.41bn. The results were much lower than the market expected. An average of estimates from six analysts polled by Dow Jones Newswires had forecast a net profit of INR4bn. Without the one-time charge, the net profit could have ...

Bihar cement prices rise as supplies fall, India

09 April 2012, Published under Cement News

Cement 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 ...

Holcim

05 April 2012, Published under Cement News

Holcim has strengthened its capital base by issuing 5m treasury shares at CHF59.25. The offer was over-subscribed and is raising CHF296m, or €2346m. This transaction has increased the issued share capital by approximately 1.5%. Holcim Philippines, which saw its 2011 net profit drop by 47.1% in response to weaker demand and higher costs, is expecting growth of 5-6% in 2012 and re-opened its Calaca works in January. Holcim's Indian volumes have continued to rise at both ACC and Ambuja Cemen...

Indian majors report March gains

04 April 2012, Published under Cement News

Three 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...

Jefferies starts India cement coverage

24 February 2012, Published under Cement News

Jefferies 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...

ACC and Ambuja optimistic on year ahead

10 February 2012, Published under Cement News

Holcim’s Indian interests, ACC and Ambuja Cements both have an optimistic outlook for domestic cement demand this year, the Wall Street Journal reports. ACC said though economic growth during the current fiscal year hasn’t been robust, it has seen some positive signs in the last few months. “In the near term, we expect economic development will accelerate as India plans to invest about US$1trn (INR49.3trn today) in infrastructure in the 12th Five-Year Plan period,” the company said. “This ...

ACC reports 8.8% rise in January dispatches

02 February 2012, Published under Cement News

India’s No 2 producer, ACC Ltd, reported that dispatches in January increased by 8.78 per cent from a year earlier to 2.23Mt. The company, part of the Holcim group, said production during the month increased 9.2 per cent to 2.25Mt from 2.06Mt a year earlier.

UPCL to set up cement blending unit, India

01 February 2012, Published under Cement News

Udupi Power Corporation Limited (UPCL) plans to establish a cement blending unit at its plant in Udupi district to overcome fly ash problem leading to environmental threat in the agricultural fields and houses in the surrounding areas. United News of India reports that the fly ash generated from UPCL was being transported to ACC for producing blended cement. However, a new, separate cement blending unit will be established in the vicinity of UPCL's power plant, J Krishna Palemar, Minister...