Cement News tagged under: India
UltraTech Cement commissions slag cement grinding works15 May 2017, Published under Cement NewsUltraTech Cement said it has commissioned a slag cement grinding works at Patliputra in Bihar, India. "The company has commissioned a 0.3Mta slag cement manufacturing capacity at its existing facilities at Patliputra in Bihar," UltraTech Cement said in a filing to the Bombay Stock Exchange. "This will bolster our capabilities to meet the growing demand for slag cement from the markets of eastern India," it added. With the commissioning of this manufacturing capacity, the company's cemen... |
Orient Cement sees pick up in volumes10 May 2017, Published under Cement NewsIndia's Orient Cement saw an improvement in fourth-quarter volumes but reported a 10.55 per cent decline in net profit due to the full extent of finance costs and depreciation. The CK Birla Group firm said total income increased by 36.98 per cent to INR6.957bn (US$107.6m) during the quarter under review. "The company has reported volume growth of 25 per cent over the corresponding quarter last year on account of increasing volumes across all its areas of operation," it said in a statement.... |
ACC to consider merger with Ambuja Cement08 May 2017, Published under Cement NewsThe Board of Directors of ACC, at its meeting on Friday, decided to commence an evaluation of a potential merger with Ambuja Cement. Both Indian cement concerns are part of the LafargeHolcim group. The move is being considered "with a view to combine the strengths of both businesses so as to benefit all stakeholders," ACC said in a statement. A special committee of directors, of which the majority are independent directors, has been installed to commence the evaluation. "No decision ... |
Dalmia top bidder for Chhattisgarh limestone block08 May 2017, Published under Cement NewsDalmia (Bharat) Cement has emerged as the preferred bidder for the Kesla II limestone block in Raipur district Chhattisgarh, India, which was auctioned by the state government on Tuesday. Business Line (India) reported that an official statement said that with 215Mt of reserves, the block has an estimated value of mineral resource of INR103.67bn (US$1.61bn). |
Ambuja Compocem launched04 May 2017, Published under Cement NewsAmbuja Cement announced it has launched its composite cement, Ambuja Compocem, to the Indian markets of Bihar and Jharkhand. The LafargeHolcim company said in a statement that its Chhattisgarh facility has become is first cement plant in India to develop a composite cement after rigorous research over the last year and a half. The new offering is a combination of cement, flyash and slag. Speaking at the launch of the product, Ajay Kapur, MD and CEO of Ambuja Cement, said: "Ambuja Compocem... |
Prism Cement receives limestone mining lease03 May 2017, Published under Cement NewsPrism Cement announced it has received a letter of intent from the government of Madhya Pradesh, India, for a cement-grade limestone mining lease. The lease if for mining in the Chulhi and Majhiyar villages in the Satna district of the central Indian state. To span a period of 50 years, the lease covers reserves of about 23.6Mt and applies to the cement producer’s plants Madhya Pradesh. |
Ambuja Cement sees market improvements02 May 2017, Published under Cement NewsAmbuja Cement, part of the LafargeHolcim group, reported that improving sales volumes, combined with favourable pricing contributed to positive 1Q17 results despite rising costs. Cement sales volume and price realisation improved in each consecutive month of the 1Q17, backed by good cement demand compared to the corresponding period a year, leading to a 5.3 per cent increase in net sales to INR25.33bn (US$395m). “With demonetisation largely behind us, we are well placed to serve both ... |
Morgan Stanley rates UltraTech Cement rated ‘Overweight’02 May 2017, Published under Cement NewsUltraTech Cement has been rated ‘Overweight’ by Morgan Stanley with the EBITDA beat driven by costs, the research house notes. Morgan Stanley cited gradual improvement in industry cement demand, UltraTech Cements's positioning with timely capacity additions and its pan-India presence. Cost focus should further aid growth, it highlighted. "We believe current multiples are sustainable, as we project 25 per cent EBITDA CAGR over FY17-19. UltraTech reported a seven per cent YoY decline in FY1... |
Indian cement prices return to pre-demonetisation levels28 April 2017, Published under Cement NewsCement prices in India have returned to levels prior to the government’s demonetisation move, analysts at ICRA Ratings have reported. “With the impact of demonetisation gradually subsiding, cement prices have reached the pre-demonetisation levels in April 2017 in most markets,” the Economic Times of India quoted Sabysachi Majumdar, senior vice-president and group head, ICRA Ratings as saying. Prices declined in the range of 16-17 per cent in the western and southern regions between Nove... |
No sign of Pakistan cement export recovery28 April 2017, Published under Cement NewsPakistan recorded export volumes of 204,159t cement in March 2017 on revenues of US$11.38m, representing a MoM decline of 11.77 and 7.04 per cent, respectively. On an annual comparative basis, the declines were much steeper with volumes down 65.03 per cent and revenues falling 59.86 per cent, according to the country's Federal Bureau of Statistics. In the first nine months of FY16-17, cement exports totalled 3.644Mt or US$191.51m compared with 4.555Mt at US$248.02m ... |