Cement News tagged under: India

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Nalanda Capital cuts stake in Shree Cement, India

09 October 2012, Published under Cement News

Nalanda Capital has sold around half of its holding (3.25%) in Shree Cement. The fund sold around 1.61 per cent or 561316 shares for INR3800.84 per share, aggregating around INR213.33 crore through bulk deal on the Bombay Stock Exchange. Nalanda Capital made around 2x returns from this share sale. It invested in the company between June and September 2011 when the prices were hovering between INR1600-1800 crore.

Indian producers seen posting higher 2QFY13 figures

05 October 2012, Published under Cement News

Indian cement manufacturing companies are expected to put up a robust performance this quarter owing to higher dispatches and lower raw material costs. The Economic Times of India reports that cement demand was higher this quarter on account of the monsoon being slightly weaker than normal. In addition, lower coal prices may lead to improved realisations. As a result, ACC Ambuja Cements and Grasim Industries are expected to double net profits from year-ago levels following double-digit sales...

Ambuja Cements September sales and output climb, India

04 October 2012, Published under Cement News

Indian producer Ambuja Cements said sales rose 4.73 per cent to 1.55Mt in September from 1.48Mt in the same month a year ago, the company said in a statement. The company reported growth of 6.85 per cent in cement production at 1.56Mt, compared to 1.46Mt in September 2011. For the first nine months of this year, sales reached 16.37Mt, a 6.23 per cent increase compared to 15.41Mt in the same period of last year. Production, meanwhile, rose six per cent during the period to 16.38Mt from 15.4...

Andhra Pradesh hit by declining prices and demand, India

04 October 2012, Published under Cement News

Cement producers operating in the Indian state of Andhra Pradesh continue to suffer due to lower prices and demand in the region, the Economic Times of India reports. Cement prices have corrected sharply by 10 per cent over the last few weeks and are down 25 per cent on peak levels from INR300/bag. The decline in prices is attributed to new market entrants rather than seasonal effects. For example, JP Cement is selling cement at around INR201-220/bag which is INR20-30 lower than prices by l...

ACC September cement production up 9%, India

02 October 2012, Published under Cement News

ACC Ltd, part of the Holcim Group, reported that its production in September rose by nine per cent to 1.82Mt from  1.67Mt in the same month of 2011. Dispatches reached 1.80Mt, compared with 1.73Mt, an increase of four per cent. For the first nine months of this calendar year, cement production stood at 18.28Mt compared with 17.76Mt in the corresponding period last year, an increase of three per cent. Meanwhile, cement dispatches were 18.22Mt, up by two per cent from 17.79Mt in January-Septe...

Pakistan cement export volumes fall 20.8% YoY

01 October 2012, Published under Cement News

During the first two months during FY12-13, Pakistan exported 1.154Mt of cement and earned US$91.356m compared to 1.457Mt at US$75.891m in corresponding period last year. This shows that cement export fell by 20.79 per cent in terms of quantity but rose by 20.38 per cent in terms of value in dollar over corresponding period last year respectively, according to data released by Pakistan's Federal Bureau of Statistics. However, in terms of Pakistani currency, exports rose 31.69 per cent du...

BAI of India seeks government intervention for land acquisition process

01 October 2012, Published under Cement News

The Builders Association of India (BAI) plans to seek government intervention to address pertinent issues such as land acquisition, environmental clearances and reforming the existing labour laws, according to the Times of India. The two-day meet which concluded on Saturday particularly stressed on the need to expedite the process of land acquisition and getting clearances to prevent delaying projects. The meet included the participation of nearly 700 builders from 265 branches of the assoc...

Dalmia Bharat to buy Adhunik Cement for INR5.60bn

28 September 2012, Published under Cement News

Dalmia Bharat Enterprises Ltd said Friday it has signed an agreement to acquire Adhunik Group's cement unit for about INR5.60bn (US$106.3m). Under the deal, Dalmia Cement Bharat Ltd. will acquire Adhunik Cement Ltd., the company said in a regulatory filing. Adhunik Cement sells cement under the Adhunik MSP brand and has a manufacturing facility with a capacity of 1.5Mta in the Jaintia Hills of Meghalaya, a northeastern state in India, according the Adhunik Group website. Steel maker ...

Ambuja Cements wins safety awards

27 September 2012, Published under Cement News

Ambuja Cements has won two national awards for safety at its Rabriyawas plant in Rajasthan.  The company bagged the first prize for its good performance in industrial safety and was runner-up in the category, ‘Accident Free Year.’ This is for the second consecutive year that the plant has won the National Safety Awards, according to The Hindu Business Line. The awards have been instituted by the Union Ministry of Labour and Employment in 1965. Ajay Kapur, CEO, Ambuja Cements, said safe...

India’s cement transport by rail falls 11.8 per cent

26 September 2012, Published under Cement News

A rise in freight charges has seen a drop in cement volumes carried by Indian Railways. In August, cement volumes carried by rail fell 11.8 per cent YoY to 7.52Mt as rail fares saw an increase of as much as 24 per cent.  The Cement Manufacturers Association (CMA) said the decline was prompted partly by the rise in freight rates, although the general decline in the cement market also contributed.  In addition, the cargo does not have to be transported across long distances. "Today, a la...