Cement News tagged under: India Cements
Government to cancel India Cements plant25 September 2015, Published under Cement NewsThe government of India has decided to cancel the allotment of a cement plant given to India Cements in Gumma, Shimla, Himachal Pradesh. The decision was taken after India Cements expressed its unwillingness to start works, according to local media. "It has been decided to cancel the allotment as the company is no longer keen to set up the plant and they have failed to show any progress in the years since the allotment was made," said Mukesh Agnihotri, industry minister. He added that the ... |
India Cements reports low demand in 2Q1513 August 2015, Published under Cement NewsSouth India's largest cement maker by volume, The India Cements Ltd, on Wednesday said its profits for the quarter ended June 2015 were INR4010m (US$617.2m) from a loss of INR2960m (US$25.5m) in the comparable quarter last year. Cement producers in south India have previously found profits hard to come by with excess capacity and falling demand. "It's a quarter where price stabilisation happened and a slightly better quarter, but poor demand," said MD of ICL, N Srinivasan. He said hat the... |
Trinetra shareholders give green light for merger31 March 2015, Published under Cement NewsShareholders of Trinetra Cement Ltd have approved the scheme of amalgamation and arrangement between the company and Trishul Concrete Products Ltd with India Cements. “The Scheme was duly approved by the Secured Creditors of the Company with requisite majority," the company said in a filing to stock exchanges. India Cements announced in May last year that as part of restructuring, it planned to merge its subsidiary Trinetra Cement Ltd and sell land near its plants in Tamil Nadu and... |
India Cements posts third-quarter net loss12 February 2015, Published under Cement NewsIndia Cements Ltd posted a net loss for third quarter, compared with a profit a year ago, dragged down by muted cement sales in the south. The Chennai-based firm posted a net loss of INR116.8m, compared with a net profit of INR4.2m a year ago. The company registered flat revenue growth at INR10.359bn crore for the three months to December as against INR10.365bn crore a year ago. CSK transfer Meanwhile, the board of India Cements yesterday approved a proposal to transfer the owner... |
India Cements board approves funding proposal29 December 2014, Published under Cement NewsThe Board of India Cements has approved a proposal to raise INR500 crore through qualified institutional placements or foreign currency convertible bonds to meet capital expenditure, a senior company official has said. "The Board has approved the proposal for raising an amount not exceeding INR500 crore by way of issue of QIP/FCCB/GDR or other Securities to improve the leverage and for meeting normal capital expenditure," N Srinivasan, vice chairman and managing director of India Cements ... |
India: CCI closes case against 11 cement companies24 November 2014, Published under Cement NewsThe Competition Commission of India (CCI) has closed a case of alleged cartelisation among cement companies for lack of evidence. An anonymous reference had alleged that the cement producers had increased prices by INR75/bag (US$1.21) within the period of a month, according to HN Mint news service. The companies were named as Penna Cements, India Cements, Ramco Cements, Bharathi Cements, Dalmia (Bharat) Cements, Bhavya Cements, Zuari Cements, Ultratech Cements, Jaypee Cements, KCP Cements... |
India Cements: back in the black13 November 2014, Published under Cement NewsIndia Cements has reported a profit for the July-September quarter on higher income and lower expenses following a loss in the same period of the previous year. For the three months to the end of September 2014, the company posted a net profit of INR7.5 crore against loss of INR22.5 crore in the year-ago period. Total income from operations grew by 3.84 per cent to INR1136 crore in the quarter ended September 2014 from INR1094 crore in same quarter a year earlier. Operating profit ... |
India Cements board to consider raising INR5bn, mulls MSE delisting12 November 2014, Published under Cement NewsIndia Cements today said its board will consider a proposal to raise INR5bn (US$81.3m) from investors. "The Board of Directors at its meeting will, consider the following issue of QIP, FCCB, GDR and/or other securities for a total sum not succeeding INR500 crore”, India Cements said in a filing to the BSE stock exchange. The board would also consider delisting of its shares from the Madras Stock Exchange Ltd (MSE), it said. |
India Cements to demerge Super Kings division24 September 2014, Published under Cement NewsIndia Cements said Tuesday it would demerge the Chennai Super Kings (CSK) division into a wholly-owned subsidiary. "Our company presently owns Chennai Super Kings (CSK) - BCCI-IPL Franchise 20/20 Cricket Tournament Team. We propose to demerge the said CSK Division to a wholly-owned subsidiary of our company," the company said in a statement filed with the Bombay Stock Exchange (BSE). India Cements said the proposed demerger has been included for consideration of the board of directors slat... |
India Cements to upgrade Tamil Nadu works23 June 2014, Published under Cement NewsIndia Cements plans to upgrade and expand capacity of its cement plant in Salem, Tamil Nadu state, India. The company will optimise the existing kiln and add a new line. It has sought environmental clearance and once this is in place the project will be able to proceed, according to sources cited by Hindu Business Line. |