Cement News tagged under: India
Promoters of the Udaipur Cement Works to sell 13.64 per cent stake08 December 2015, Published under Cement NewsThe promoters of the Udaipur Cement Works, including JK Lakshmi Cement Ltd, will sell their combined stake of 13.64 per cent in the company. The promoters of Udaipur Cement Works will sell the stake through the offer for sale (OFS) route today. "The floor price offered under the sale shall be INR10 per share of Udaipur Cement Works Ltd," the promoters told the Bombay Stock Exchange. "JK Lakshmi Cement, Florence Investech and JK Paper, part of the promoter group of Udaipur Cements Works, in... |
Reliance may get final bids for cement unit by year-end, India04 December 2015, Published under Cement NewsReliance Infrastructure is expected to get final bids from the shortlisted bidders for the sale of its cement business by 24 December 2015, according to sources close to the sale process. Last month the company announced it would be divesting of its cement and roads segments to focus on its defence business. In March 2015, Reliance announced it would be acquiring Pipavav Defence & Offshore Engineering Co in an all-cash deal. In terms of the sale of its cement unit, Reliance said it ha... |
UltraTech Cement01 December 2015, Published under Cement NewsUltraTech has been awarded a position on the Indian Climate Disclosure Leadership Index (CDLI) in recognition of the quality of the climate change related information it provides to investors and the global marketplace. The news comes just weeks ahead of COP21, the UN climate change conference, when national leaders meet to agree a global deal to reduce carbon emissions and limit temperature warming. According to the company, it has earned its place on the index by disclosing high-quality... |
India: Shree Cement plans eastern expansion24 November 2015, Published under Cement NewsShree Cement Ltd is setting its sights on the eastern Indian market by establishing a grinding units in the states of Odisha and West Bengal, according to local press reports. The company is reportedly in the process of identifying land for the two plants, each with a capacity of 2Mta. "We have already started despatches in West Bengal and Odisha in a small way. We would like to capture at least three to five per cent market share in these two state over the next six months," said S... |
Coal prices set to fall further18 November 2015, Published under Cement NewsCement producers can expect to look forward to lower coal prices as world demand for the commodity is expected to fall and over-investment in mines is causing a production hike. China’s slowing economic growth is forecast to see the country’s coal demand fall faster than its domestic supply, even after mine production cuts, thus affecting imports into the Asian nation. Chinese coal imports are contracting by a record 50Mt to 85Mt this year and further decreases are expected for 2016-17, a... |
JSW Group to invest in port capabilities and cement capacity10 November 2015, Published under Cement NewsJSW Group plans to invest INR40bn (US$610m) to boost its port and cement capacity in the next two years. JSW Infrastructure Ltd, plans to almost double its ability to handle cargo at its ports to 62Mt, with a target to further increase it to 200Mt by 2025, Seshagiri Rao, group chief financial officer, said in an interview. Cement capacity is estimated to increase to 17Mt in the next 24 months from 6Mt, he said. “Ports appear to be a very, very attractive investment as ports and inland wate... |
India: Coal India contracts not discontinued in June 201609 November 2015, Published under Cement NewsThe fuel supply contracts of cement companies with Coal India will not be discontinued for auction, in contrast to earlier government announcements that all coal supply agreements between Coal India and non-power firms would end in June 2016. The government will wait for the contracts to end and then auction them. Most contracts are expected to laps in 2017. Around 28Mt of coal is due for auctioning to unregulated sectors (e.g. cement and steel) next year. The companies will have to in... |
India: Udaipur Cement Works sees 12.6 per cent YoY gain in Jul-Sep revenues09 November 2015, Published under Cement NewsUdaipur Cement Works reported total revenues of INR214.9m (US$3.24m) , down 4.3 per cent QoQ, but up 12.6 per cent YoY. The company also recorded a net profit of INR15.6m for the quarter ended September 2015, a significant improvement when compared with the previous quarter when a INR14.6m loss was posted as well as with the previous year’s Jul-Sep quarter, which saw a INR15m loss |
Plans to convert Binani Cement debt into equity09 November 2015, Published under Cement NewsLenders to India’s Binani Cement are planning to convert a total debt of INR30bn in the company to equity. The debt-to-equity conversion is being contemplated under the strategic debt restructuring (SDR) guidelines of the Reserve Bank of India (RBI). The consortium of 18 banks led by the Central Bank of India are looking at converting the debt to equity, giving lenders a majority stake. "The banks are contemplating whether they should first try and turn around the company," a banker told ... |
UltraTech Cement included on the Indian Climate Disclosure Leadership Index05 November 2015, Published under Cement NewsUltraTech Cement announced that it has been identified as an Indian leader for the quality of climate change-related information that it has disclosed to investors and the global marketplace through CDP India, a not-for-profit organisation that drives sustainable economies. As a result, UltraTech Cement has been awarded a position on the Indian Climate Disclosure Leadership Index (CDLI), released this week in the India climate change report. The Indian cement major said it has earned it... |