Cement News tagged under: UltraTech Cement
UltraTech Cement eyes Jaypee's Gujarat operations03 December 2012, Published under Cement NewsIndia's largest cement producer UltraTech Cement is understood to be in talks with Jaypee Group for the latter's business in Ahmedabad, Gujarat. Local press have reported that the deal is valued at around US$700-890m and is likely to close by year-end. Jaypee's Gujarat operations have a capacity of 4.8Mta. The company also has cement assets in Andhra Pradesh. The proceeds received by Jaypee would be used in part to meet capacity expansion and retire debt. CRH had also been in negotiati... |
UltraTech second quarter profit surges, India22 October 2012, Published under Cement NewsIndia’s largest cement producer UltraTech reported a 97 per cent rise in standalone profit to INR5.5bn (US$102m) for the second quarter of the current fiscal FY12-13 but higher input costs continue to impede the domestic industry. During the July-September 2012 period, net sales rose 20 per cent to INR47bn, as consumption has seen a gradual uptick through the year. Cost cutting measures have helped the cement major achieve better results, the company said in a release. Margins of cemen... |
UltraTech Cement mandates SMBC for loan, India13 September 2012, Published under Cement NewsUltraTech Cement Ltd has awarded a sole mandate to Sumitomo Mitsui Banking Corp for a syndicated loan, sources said. One source said the deal size is between US$50m and US$100m. Timing of any potential syndication is not determined yet. Ultra Tech Cement is part of the Aditya Birla Group. It is the country's largest cement maker, with a capacity of 48Mt which it is increasing to 62Mt by FY14. |
UltraTech on track to raise capacity by 19% next year31 August 2012, Published under Cement NewsUltraTech, India’s leading cement producer, said it will raise capacity to 62Mt by next year, according to its chairman, as he warned that the outlook for the domestic sector remains challenging. "I believe the short-term prospects for the industry appear bearish. Regardless, over the medium to long term, the sector offers good growth potential," Kumar Mangalam Birla said in a statement released after the company's annual shareholder meeting. Rising input and energy costs have been squ... |
India's Ultratech Cement plans to raise INR2.5bn via bonds24 August 2012, Published under Cement NewsUltratech Cement is planning to raise INR2.5bn (US$44.84m) through five-year bonds at 9.15 per cent, a source with direct knowledge of the deal said on Thursday, according to Reuters. |
UltraTech Cement plans to raise INR2.5bn rupees via bonds16 August 2012, Published under Cement NewsIndia's UltraTech Cement is planning to raise INR2.5bn (US$44.84m) through five-year bonds at 9.15 per cent, a source with direct knowledge of the deal said on Thursday. HSBC Bank is the sole arranger to the deal, said the source. (Reuters) |
Cochin port attracts import investments, India13 August 2012, Published under Cement NewsCochin port is emerging as a major cement import hub with Malabar Cements expressing interest in setting up a 1Mta facility and Zuari Cements finalising a 30-year deal with the Cochin Port Trust (CPT) this week. Cochin Port is a major port on the Arabian Sea – Indian Ocean sea-route and is one of the largest ports in India. The port lies on two islands in the Lake of Kochi: Willingdon Island and Vallarpadam, towards the Fort Kochi river mouth opening onto the Arabian Sea. The Hindu newsp... |
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... |
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. |