Cement News tagged under: India
India: cement prices falling pre-monsoon04 May 2012, Published under Cement NewsApart from in eastern India, cement prices are on a downward spiral across the country, suggesting the monsoon-time weak cycle has set in early this year. Dealers and industry sources said prices have corrected in the range of INR5-15/bag, or around 2%, of late as supply outstripped demand. The earlier price uptrend since February corrected from INR314-308/bag (US$5.80-5.70) in mid- to end-April. A cement dealer from Delhi said, “Demand from construction activity has been low. The most re... |
India: Malkhed plant receives government approval04 May 2012, Published under Cement NewsThe state government has, in principle, given approval to a proposal by Vasavadatta Cement, owned by Kesoram Industries Ltd, to establish a cement plant with a capacity of 4.5Mta with a provision to establish a 50MW power plant at Malkhed in Sedam taluk of Gulbarga district. Vasavadatta Cement has already established a major cement plant on the outskirts of Sedam town. Now it proposes to invest INR16bn (US$297.2m) to set up its second plant at Malkhed with a promise to generate employment ... |
Holcim03 May 2012, Published under Cement NewsThe leading Russian cement producer Eurocement has spent CHF100m (€83m) to increase its stake in Holcim from 10.1 to 10.8%. ACC Limited, the larger of Holcim's two main subsidiaries in India, generated a first quarter turnover 18.7% ahead at INR. crore 3,015 (€432.3m) as cement deliveries increased by 9.1% to 6.62Mt The EBITDA improved by 10.4% to INR crore 648m (€9.3m), but the pre-tax profit fell by 56.84% to INR crore 208 (€3.0m) and the net profit declined by 56.6% to INR crore 152 (€2... |
India: cement closures called in Rayalaseema02 May 2012, Published under Cement NewsThe Rayalaseema Rashtra Samiti, an organisation based in Proddatur of Kadapa district, has given a closure call for all cement factories in the four Rayalaseema districts on 23 May if the price per bag is not reduced to INR150 (US$2.80) from the current INR330 (US$6.24). Samithi president Kuncham Venkata Subba Reddy has sent out notices to the cement factories and also written a letter to Prime Minister, apprising him of the problems faced by people of Anantapur, Chittoor, Kadapa and Kurno... |
Credit Suisse sees “headwinds” for Indian cement sector02 May 2012, Published under Cement NewsCredit Suisse sees near-term "headwinds" for the sector due to a slowdown in rural and urban housing, despite the "attractive long-term rural story. "The investment bank re-starts coverage of the Indian cement sector with an "underperform" rating on ACC and Ultratech Cement and a "neutral“ rating on Ambuja Cement. Credit Suisse says margins will also "deteriorate" due to an expected 13% rise in power and freight costs on the back of higher domestic coal and diesel prices. The bank also say... |
India: cement prices have started to weaken02 May 2012, Published under Cement NewsCLSA India says cement prices have started to drop across India, with dealers expecting more falls ahead, according to its India Reality Research survey. Cement prices have fallen by an average of 2% per bag since 15 April, with dealers citing rising inventories, while demand is being hit by "sluggish" construction activity. ACC has risen 6% in 2012, Ambuja Cements is down 4%, while Ultratech Cement is up 21% on a YTD basis, compared to 12.2% rise in Nifty. The outlook for the sector is... |
India: Madras Cements eyes 20% growth02 May 2012, Published under Cement NewsBuoyed by likely growth in demand for cement in south and the company's renewed focus this year on a few states in the east and west, Madras Cements expects a 20% growth in its top line in the current FY12-13. This is also likely to see its capacity utilisation rise over 10 per cent during the year. The company will also become self-sufficient in captive thermal power generation this year, thereby freeing its wind power capacity to be entirely supplied to the state grid. "The cement ind... |
Madras Cements sees 20 per cent growth in FY12-1301 May 2012, Published under Cement NewsMadras Cements expects a 20 per cent growth in its top line in the current financial year (2012-13) buoyed by expected cement deman growth in the south and the company’s renewed focus this year on a few states in the east and west. Capacity utilisation is also expected to go up by over 10 per cent during the year. The cement industry has always gone through this demand – supply mismatch, since firms plough back some of their reasonable profits during high cycles to expand capacities. The sa... |
INC to import 80,000t of clinker, Paraguay30 April 2012, Published under Cement NewsIndustria Nacional del Cemento (INC) will rise this week to the Public Procurement website’s invitation to bid, with an auction to buy 80,000t of clinker imports. This is the second call for tenders for purchase of imported clinker, since the former was declared void because the offers that had exceeded the budget of the state company. INC President, Edgar Acosta explained that while the company has 30,000t of domestic production in stock the problem is the limited transport capacity, as... |
Bokaro Jaypee Cement Plant inaugurated, India30 April 2012, Published under Cement NewsChief Minster Arjun Munda on Friday inaugurated the Bokaro Jaypee Cement Plant (BOJCP) which has a capacity of 2.1Mta at Balidih Industrial Area of Bokaro Steel City. The project is a joint venture unit of Steel Authority of India Limited (SAIL), Bokaro Steel Plant (BSL) and Jaypee Group. Deputy Chief Minister Sudesh Mahato and Hemant Soren along with SAIL Chairman CS Verma, SS Mohanti Director Technical SAIL, Sunny Gaur the vice-chairman of Jaypee Group including others were also in atte... |