Cement News tagged under: UltraTech Cement

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Credit Suisse maintains negative outlook for large Indian cement companies

06 June 2012, Published under Cement News

Credit Suisse maintains negative outlook for large-cap cement stocks, due to expensive valuations and low growth prospects, the Economic Times of India reports. Cement prices in May declined by 2-6 per cent across regions in India, which is an unseasonal trend, Credit Suisse said. ??Demand was also cited to be weak, which is however, contrary to the double digit volume growth posted by Ultratech Cement and Ambuja Cement in May. Any adverse ruling by monopoly regulator on cartelisation c...

UltraTech Cement reports rise in May dispatches

04 June 2012, Published under Cement News

UltraTech Cement Ltd dispatched 3.59Mt of cement in May, up 10.6 per cent YoY, according to a company statement. Dispatches higher than the 3.2Mt recorded in April. The country’s largest cement producer by capacity produced 3.5Mt during April, up 7.7 per cent from a year ago.

UltraTech Cement net profit rises 19% in 4Q to US$69.7m

24 April 2012, Published under Cement News

UltraTech Cement posted a 19% rise in net profit at INR8.67bn (US$69.7m) in the fourth quarter ended 31 March 2012, as compared to INR7.27bn (US$138m) in the corresponding quarter last year. Net sales rose 19% to INR53.37bn from INR44.9bn during the period. ?? Profit before interest, depreciation and tax is INR14.64bn as against INR11.27bn in the corresponding period of the previous year. ??The combined cement and clinker sales of grey cement was 11.54Mt and 3Mt for white cement.

UltraTech in talks to buy Mozambique mine

19 April 2012, Published under Cement News

Aditya Birla group's UltraTech Cement - India's largest cement maker, is in talks to acquire a large limestone mine in Mozambique for about INR1500 crore. According to reports in the Economic Times of India, negotiations between the Mumbai-based company and the mine owner began two months ago and could subsequently result in UltraTech constructing a 1-2Mta cement plant in the southeast African country. Demand in Mozambique has been growing at 8-9 per cent annually, a source familiar with th...

UltraTech Cement appoints additional director, India

18 April 2012, Published under Cement News

UltraTech Cement’s board of directors have appointed M Damodaran as an additional director (independent) with effect from 16 April 2012, the company said in a statement to the Bombay Stock Exchange.

Bihar cement prices rise as supplies fall, India

09 April 2012, Published under Cement News

Cement prices in the Indian state of Bihar have risen by almost 50 per cent due to increased construction activity and the temporary shutdown of a nearby Prism Cement unit, the Economic Times of India reports. Bihar, situated in eastern India, has no major cement production facilities and relies on cement from plants located in Satna, MP, where prices have been rising due to heightened building activity. Compounding the issue is the shutdown of Prism Cement’s Satna unit which satisfies a ...

Indian majors report March gains

04 April 2012, Published under Cement News

Three of India's leading cement producers, UltraTech Cement as well as Holcim interests, ACC and Ambuja Cement, all reported healthy gains in their respective March 2012 figures.   UltraTech despatched 4.01Mt cement in March, 6.28% higher from previous year, a company release today said. Cement production during the month rose 4.5% YoY to 3.92Mt. On a monthly basis, despatches and production rose 14% and 13%, respectively. Ambuja Cement sold 2.17Mt of cement in March this year, up 12.4...

UltraTech Cement in talks to buy northeastern plant

22 March 2012, Published under Cement News

UltraTech Cement, the largest cement producer in India, is in talks to buy north-eastern cement producer Adhunik MPS Cement’s Meghalaya plant for over INR7bn., according to reports from the Economic Times (ET) of India. The report said that the 1.5Mta cement facility will boost UltraTech Cement’s presence in the fast-growing but largely untapped northeastern market. A multinational cement producer is also reported to be interested in the unit, the ET notes.

Jefferies starts India cement coverage

24 February 2012, Published under Cement News

Jefferies has initiated coverage on the Indian cement industry with a buy rating on ACC, Grasim Industries, India Cements, UltraTech Cement, and hold rating on Ambuja Cements. "We believe India Cements has the highest earnings upside from both volume and price surprises.... Among the large caps, Ultratech looks the best positioned without a significant exposure to south," said Jefferies in a report on Thursday. The house says that it expects the next few years to be good for the cement...

UltraTech Cement to take control of Star Cement?

07 February 2012, Published under Cement News

UltraTech Cement is looking to purchase its partner’s stake in Star Cement to take full control of the Dubai-based cement producer, sources familiar with the deal have said, adding to the rumour mill that other UAE producers are ripe acquistion targets. "The group has an option to purchase the local partner's stake when they bought the majority control company from Dubai-based ETA Star Group," the Financial Express quoted a source as saying. However, OP Puranmalka, director of UltraTech,...