Cement News tagged under: India
India cement sector to see recovery in FY13-1418 December 2012, Published under Cement NewsIndia's cement industry is expected to see a sharp recovery in cement prices in FY13-14 with an improving supply and demand scenario, as well as government measures to fast-track infrastructure projects. Reuters reports that Deutsche Bank believes cement companies such as UltraTech Cement and Shree Cement that have potential to increase capacity and have a bigger presence in western and northern India will witness "disproportionate benefits". Meanwhile, Morgan Stanley maintains an 'attra... |
ACC awards contract for Jamul Cement plant construction, India18 December 2012, Published under Cement NewsMcNally Bharat Engineering has been awarded a contract by ACC Ltd for the construction and installation of a cement plant in the central Indian state of Chhattisgarh. "The company has received an order from ACC Ltd for onshore supply, civil construction and installation and erection of the new Jamul Cement plant," McNally Bharat said in a filing to the Bombay Stock Exchange. The order has a contractual delivery period of 30.5 months, it said and is worth INR733 crore McNally Bharat Enginee... |
BoA-Merrill upgrades India's cement stocks to 'buy'14 December 2012, Published under Cement NewsBank of America-Merrill Lynch upgrades its rating across cement stocks to 'buy' from 'neutral' or 'underperform', saying capacity will lag demand, while valuations are below previous up cycles. The investment adds general elections in the next 18 months bode well for the Indian cement sector given the demand-GDP multiplier expanded in four out of the five previous election years. Among the major cement manufacturers, Bank of America upgraded UltraTech Cement and Ambuja Cements to 'buy'... |
Holcim Services (South Asia) signs fleet management deal, India13 December 2012, Published under Cement NewsHolcim Services (South Asia) Ltd, a unit of the Holcim Group, will deploy the Trimble® trako Fleet Management and Visual Cargo solutions in their outbound logistics fleet that transports cement to various destinations across India. The Trimble solution will provide Holcim better visibility into its transport logistics operations to help increase fleet productivity, improve operational efficiencies, enhance fleet and driver safety, and meet tight delivery timelines. As part of the implemen... |
Ambuja Cements wins water management awards, India12 December 2012, Published under Cement NewsIndia-based cement producer Ambuja Cements has scooped three awards at the 9th National Award for Excellence for its work in the drought-prone state of Rajasthan. Ambuja’s two plants in Rajasthan – Rabriyawas and Marwar Mundwa – both won awards for their respective water management efforts. Commenting on the company’s achievements, Ambuja’s CEO, Ajay Kapur, said: “This is a matter or immense pride for Ambuja to bag these awards, and thus setting fresh benchmarks in water management not ju... |
Jaypee/Aditya Birla talks advance, India10 December 2012, Published under Cement NewsTalks between the Jaypee Group for its sale of its Gujarat based cement units to Aditya Birla have moved into the final stages, according to local media reports, adding that valuations of the deal have continued to put hurdles in the way of the deal. Reports that the Birla group have been negotiating for the price Jaypee Gujarat cement units and if the deal proceeds they may end up paying around US$800m. It said that the Birlas have offered US$160/t of capacity, much lower than the US$200/t... |
India: Compat hears petitions in cement cartilisation case07 December 2012, Published under Cement NewsThe Competition Appellate Tribunal (COMPAT) has started hearings on the plea of 11 cement companies seeking stay on INR6307 crore (US$1160.4m) penalty imposed by fair trade regulator CCI on the grounds of cartelisation. It was COMPAT’s first hearing after the cement firms filed their amended petitions after CCI served them separate copies of its order providing them with complete details on production, pricing, dispatches and sales etc. After hearing day long arguments, a three member COMP... |
India: cement firms hit by high coal prices07 December 2012, Published under Cement NewsInput cost pressures for cement manufacturers have lately been rising due to international coal prices gaining 4% MoM in December, 2012 to average US$90.8/t in the first week of December coupled with 0.6% rupee depreciation against the dollar during the same period, says a Shajar Capital research note. As of 30 November 2012, Richards Bay Coal (FOB) stood at Us$89.8/t while Newcastle stood at US$87.1/t according to an AKD Securities research note. In this regard, with exports slowing dow... |
Jaiprakash may not meet asset sale target – Kim Eng05 December 2012, Published under Cement NewsJaiprakash Associates may not meet its target of raising INR50bn via a sale of its plants in Gujarat and Andhra Pradesh states, according to analysis by Asian securities and investment broker Kim Eng. Jaiprakash on Monday said buyers are showing interest in its Gujarat plant only and not its Andhra Pradesh plant. It also denied media reports that said it had sold its 5Mt capacity Gujarat cement plant to UltraTech Cement at a valuation of US$180/t. The company however says that it is sti... |
Lucky Cement not to build cement plant in India04 December 2012, Published under Cement NewsPakistan’s leading cement manufacturer and exporter Lucky Cement Ltd has officially informed the Karachi Stock Exchange (KSE) that it is not establishing a cement plant in India. The company is, however, proceeding as planned with two new overseas ventures. The official note by Muhammad Suhail, company secretary of Lucky Cement to the KSE stated: “We would like to clarify that our company (Lucky) has neither decided nor planned to set up any cement plant in India.” Local media repor... |