Cement News tagged under: India
India: Shree Cements reports 10% rise in quarterly net profit03 February 2016, Published under Cement NewsShree Cements reported a 10 per cent rise in standalone net profit at INR10.286bn (US$0.151m) for the quarter ended 31 December 2015 compared to a profit of INR9.368bn a year earlier, it said in a Bombay Stock Exchange filing. Income rose by 18 per cent to INR18.288bn in the October-December quarter versus INR154.45bn during the same quarter last fiscal. Total expenses, however rose by 19 per cent to INR170.71bn. Capacity expansion In a separate filing, Shree Cement said it will ex... |
Uptick in Indian demand expected from next fiscal02 February 2016, Published under Cement NewsCement demand in India is likely to see an uptick in the next financial year starting 1 April on expected pick-up in construction and housing activity as well as improvement in rural demand, says Reliance Securities. Though demand improved in January, pricing remained dismal due to oversupply and the attempt by new entrants to increase market share, the brokerage adds. But that should slow and construction demand recovery, improving industry profitability in the longer term, Reliance says. |
India: Birla Corp reportedly front-runner for Reliance assets01 February 2016, Published under Cement NewsBirla Corp Ltd is set to buy the cement assets of Reliance Infrastructure Ltd with the deal set to be sealed within the next few days, according to local media reports. “It will be signed formally in the coming days,” said one of the two people cited above. “Even though discussions took nearly a month’s time to finalise, other contenders weren’t really considered for the sale,” LiveMint reported sources familiar with the matter as saying. Birla Corp’s bid for Reliance Cement Co Pvt Ltd’s a... |
JK Cement halts production from Bagalkot unit, India28 January 2016, Published under Cement NewsJK Cement Works, in Bagalkot in Karnataka, has stopped production due to the damage caused by the roof of the clinker silo suddenly caving in, the company told the exchanges yesterday. To ensure safety and avoid collateral damage, the company has temporarily stopped clinker extraction and cement production at the unit, it said. Cement available in depots will serve the market for the time being and an alternative arrangement for operation of kiln has been initiated, which is expected to no... |
Efforts to revive CCI unit underway, India27 January 2016, Published under Cement NewsThe state government of Hyderabad on Monday appointed a consultancy firm to prepare a draft DPR (Detailed Project Report) in an effort to revive the Cement Corporation of India's (CCI) factory in Adilabad district. The DPR will explore the funds required, available assets and the condition of equipment at the plant which has been closed since 1998. The government is said to be committed to the revival of the factory, according to Minister Jogu Ramanna. Following a recent meeting between ... |
Jaiprakash reportedly receives four bids for cement business27 January 2016, Published under Cement NewsJaypee group-promoted Jaiprakash Associates has received four bids for the 20Mta of cement capacity that it has put up for sale to reduce its debt burden. A report in the Business Standard of India said the bidders include global private equity firm KKR, and domestic players UltraTech and Dalmia Bharat Cement. Units reported to be up for sale included the 2.2Mta Bhilai cement plant joint venture between Jaiprakash Associates (74 per cent) and Steel Authority of India Ltd (24 per cent) – ... |
UltraTech Cement26 January 2016, Published under Cement NewsUltraTech Cement has reported a seven per cent increase in domestic cement sales in the quarter ending 31 December 2015. Cement sales for the period stood at 11.26Mt, which, despite cement prices remaining subdued, was encouraging growth driven by operational efficiencies and lower energy costs. However, according to the company, this benefit was partially offset by an increase in costs due to the District Mineral Foundation levy. Net sales were up by five per cent to INR61.08bn (US$900m)... |
Sagar reportedly in talks to buy Jaypee's Andhra Cements19 January 2016, Published under Cement NewsSagar Cements is in advanced talks to acquire Andhra Cements from the Jaypee Group, the Economic Times (ET) of India has learnt from two sources. JSW Cement is another potential contender, according to the sources. Andhra Cements has two plants in the southeastern Indian state of Andhra Pradesh with a combined capacity of 2.6Mta. It also has a 25MW captive power plant under construction. The sources said that Sagar Cements will make an open offer to the minority shareholders of Andhra Cem... |
KKR to swap stake in Dalmia Cement with listed parent18 January 2016, Published under Cement NewsPrivate equity firm KKR is swapping its stake in Dalmia Cement for a piece of its public listed parent, according to a stock market disclosure on Friday. "Dalmia Bharat Ltd (DBL) signed a definitive agreement with KKR, under which it will acquire KKR's 15 per cent stake in DCBL in return of KKR getting 8.5 per cent stake in DBL as well as INR600 crore [INR6bn/US$88.7m] in cash," Punit Dalmia, managing director of Dalmia Bharat Group, told the Press Trust of India. This deal not only simpl... |
14th NCB International Seminar15 January 2016, Published under Cement NewsThe 14th NCB International Seminar on Cement and Building Materials in New Delhi, India, held on 1-4 December 2015, saw a gathering of more than 1000 delegates and plenty of avid discussion on how the Indian cement sector should move forward to meet expected rises in demand and foster sustainable production. Ashwani Pahuja, NCB director general, outlines the main factors that are central to the development of the Indian cement industry The inaugural session of the 14th NC... |