Cement News tagged under: UltraTech Cement
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. |
Higher sales and prices boost UltraTech first quarter23 July 2012, Published under Cement NewsIndia’s leading cement producer UltraTech Cement has reported a 14 per cent rise in net profit for the first quarter of the current fiscal (1QFY13) thanks to higher sales and increased prices The company reported on Friday that net profit rose to IN7.78bn (US$141m) from INR6.83bn in the same corresponding period of the previous year. Sales increased 17 per cent to INR50.75bn compared to INR43.52bn in 1QFY12. Input costs rose by 10% YoY mainly due to an increase in rail freight and a ri... |
India: mergers and acquisitions ahead?23 July 2012, Published under Cement NewsCRH has reportedly emerged as the latest company to enter the foray for a stake in Jaiprakash Associates' cement units in the Indian states of Gujarat and Andhra Pradesh, which could pave the way for the Irish building materials major to increase its presence in a country teeming with long-term potential. Elsewhere, the recent ruling by India's antitrust body on local cement producers could aid increased consolidation in the fragmented Indian cement sector. Earlier last month, Jaiprakash ... |
India first quarter market expectations20 July 2012, Published under Cement NewsIndian cement companies are expected to post higher net profits and sales in the first quarter of the current fiscal (April-June FY13) thanks to improved prices and higher demand. However, gains in profits for most cement companies will be impacted by rising costs owing to higher railway-freight charges. Besides, rupee depreciation will increase the cost of imported coal, a key raw material and fuel for the industry, according to brokerage Kotak Securities. Market expectations for... |
Four Indian plants force to close on alleged environmental violation20 July 2012, Published under Cement NewsFour cement plants in the Indian state of Chhattisgarh have been ordered to shut down on alleged violation of air pollution controls norms. The Chhattisgarh Environment Conservation Board (CECB) told Business Line India that two UltraTech Cement plant, one Ambuja Cement and one Lafarge plant have all be closed for over a week now. The four units, all situated in Baloda Bazar district, have a total capacity of 10Mta. CECB member secretary, Mr Narsimha Rao, said there were charges of viola... |
UltraTech seen posting 8% YoY net profit rise18 July 2012, Published under Cement NewsUltraTech Cement is expected to post an 8% YoY rise in net profit for the first quarter of fiscal year 2012-13 (FY12-13) on the back of better sales realisation and a low base effect, an average estimate of 21 brokerages showed. Net sales are seen rising 15 per cent to INR49.98bn for the country’s largest cement producer. "We expect Q1FY13 (Apr-Jun) to be yet another strong quarter for cement companies," ICICI Securities said in a pre-earnings note. "Average all-India cement prices are ex... |
Coal India threatens to cut supplies to four UltraTech Cement power plants16 July 2012, Published under Cement NewsCoal India has threatened to cut supplies to four of UltraTech Cement’s captive power plants located in the Indian states of Rajasthan, Chhattisgarh and Madhya Pradesh. DNA India reported that last week, Coal India wrote to 16 captive power plants, including the UltraTech facilities, threatening to break long-term linkages. These units were found to be incomplete when a meeting of the Standing Linkage Committee reviewed their implementation status, officials of Coal India Ltd (CIL) said. ... |
UltraTech Cement receives environmental approval for expansion25 June 2012, Published under Cement NewsUltraTech Cement has received environmental clearance for its expansion plans for two of its plants in Madhya Pradesh. The Environment Ministry has given clearance for UltraTech to its clinker plant from 3.59Mt to 6.2Mta and its cement plant from 4Mta to 10.33Mta. The company also plans to expand its captive power plant from 46MW to 122MW. The plants are located in Damodarpura and Khor villages in Neemuch district of Madhya Pradesh. |