Cement News tagged under: India
Pakistan July dispatches decline07 August 2012, Published under Cement NewsPakistan dispatches in the first month of the current fiscal saw a decline of 1.64 per cent compared to July 2011, according to data from the All Pakistan Cement Manufacturers Association (APCMA). Domestic dispatches were down by 1.47 per cent in July 2011 to 2.05Mt compared to 2.02Mt in 2011. However, the decline in exports was steeper at 9.23 per cent to 755,010t from 831,785t in July 2011. Exports to Afghanistan dropped by 10.37 per cent to 455,897t while exports to India were down ... |
Madras Cement net profit rises 25%, India03 August 2012, Published under Cement NewsMadras Cements Ltd said on Thursday it earned a net profit of INR123.01 crore for the quarter ended June 2012 as against INR98.30 crore it earned in the corresponding quarter last year, an increase of 25%. “The increase in profit during the quarter was due to higher sales and better realisation for the cement sold," the company said. Net turnover including other income rose to Rs 997.04 crore as compared to Rs 770.01 crore, an increase of 29%. |
UltraTech Cement eyes mega cement complex in Tamil Nadu, India31 July 2012, Published under Cement NewsUltraTech Cement is considering constructing a massive cement complex including a 5.5Mta integrated cement plant in Kurur, Dindigul district, Western Tamil Nadu, according to local press reports. Information accessed by the Times of India indicate that Samruddhi Cement, part of UltraTech Cement,is planning a 5.5Mta plant,4.5Mta clinker facility, 3 x 25MW captive power plants for the complex plus a 15MW waste heat recovery project at the location. The company is already in the process o... |
Six state-owned plants to be sold, India30 July 2012, Published under Cement NewsThe government of India has revived plans to sell six out of 10 cement plants operated by state-owned Cement Corp of India. Two of the cement plants are located in the state of Chhattisgarh and one each in Madhya Pradesh, Karnataka, Harayana and Delhi. The Board for Industrial and Financial Reconstruction (BIFR), which looks into ailing public sector units, has reconstituted an asset sale committee to arrive at a valuation for the six plants, which have not been functional for almost a dec... |
JSW Cement sets up new slag cement plant, India30 July 2012, Published under Cement NewsJSW Cement has established a 5Mta slag cement plant at Nandyal in Kurnool district, the slag for which is supplied by the company's steel plant in Karnataka. RC Sodani, CEO and director of JSW Cement told Business Line India that at the product is being sold at a slightly lower price than OPC, stating: "Our cement unit is in production or the past six months and the market response has been very encouraging so far." Currently the company sells slag cement in the southern states and parts ... |
JP Morgan remains underweight on Ambuja Cements30 July 2012, Published under Cement NewsJP Morgan remain Underweight on India's Ambuja Cements. Key risks to the price target as per JP Morgan is a sharp recovery in cement demand to help drive higher than expected volume growth (and therefore utilisation levels) and reduction in coal costs leading to decline in operating cost per tonne. "Demand has not been particularly strong in the last two months, but cement prices have moved up across most markets in June and July. Lack of rains in the monsoon is positive for cement dema... |
ACC reports 26 per cent net profit rise27 July 2012, Published under Cement NewsACC of India reported a rise of 26.33% in consolidated net profit to INR4.15bn for the quarter ended June 30, 2012 as compared to INR3.28bn in the same period last year. Total consolidated income for the company, which is 50.3 per cent owned by Holcim, increased by 15.13% to INR29.59bn for the quarter ended June 30, 2012 from INR21.90bn in the year ago period. Net sales rose 14.95% to INR29.19b for the quarter compared to INR25.39bn in the same period last year. |
Pakistan cement exporters earn US$499m in FY2011-1225 July 2012, Published under Cement NewsPakistan cement manufacturer and exporters during FY2011-12 (July-June) exported 8.257Mt of cement and earned US$498.909m compared to 9.299Mt at US$457.448m in corresponding period last year, according to data released by Federal Bureau of Statistics. This shows that cement exports fell by 11.21 per cent in terms of quantity but rose 9.06 per cent in dollar value over the corresponding period last year, respectively However, on Pakistan rupee terms, exports increased significantly by 14.... |
JP Morgan downgrades UltraTech Cement, India24 July 2012, Published under Cement NewsJP Morgan downgrades UltraTech stock to "underweight" from "neutral" citing "stretched" valuations. JP Morgan says Ultratech, India's leading cement producer, is trading at 10 times enterprise value/EBITDA and at 18 times P/E. The U.S. investment bank also lowers its target price to INR1400 from INR1250. Ultratech Cement on Friday reported a 14 per cent net profit for the April-June quarter. JP Morgan says prefers to invest in the Indian cement sector via Ultratech parent Grasim Industri... |
UltraTech Cement acquisition, India24 July 2012, Published under Cement NewsIndia’s number one cement producer UltraTech Cement announced on Tuesday it has signed an agreement with the shareholders of Gotan Lime Stone Khanij Udyog (GKUPL) to acquire 100% equity shares of GKUPL. With this acquisition, GKUPL has become a wholly owned subsidiary of the company. |