Cement News tagged under: india
India: five cement producers to appeal the CCI order06 February 2017, Published under Cement NewsFive of the seven cement companies which were fined by the Competition Commission of India (CCI) in January, for alleged bid rigging of a 2012 tender put out by the Haryana government, will appeal to the Competition Appellate Tribunal. Shree Cement, JK Cement, Ambuja Cements, ACC Ltd and JK Lakshmi Cement will contest the CCI order as they are of the view that they have a ‘good case for succeeding in the appeal.’ Other companies such as UltraTech Cement and Jaiprakash Associates are curren... |
India: Birla rebrands Reliance Perfect Cement01 February 2017, Published under Cement NewsSince acquiring Reliance Cement Co, Birla Corporation Ltd has rebranded the Reliance Perfect Cement brand as MP Birla Perfect Cement and launched it in the central Indian market. Kolkata-based MP Birla Group has also introduced MP Birla Perfect Cement onsite vans. These vans will be manned by experts who will provide technical information about cement and concrete and will also offer testing facilities at construction sites. Construction companies can call these vans to their project site... |
India: Grasim Industries' 3Q net profit rises 14 per cent31 January 2017, Published under Cement NewsGrasim Industries reported a net profit of INR728,200m for the December quarter, up 14 per cent from INR640,470m on a YoY basis, helped by better realisations at its viscose staple fibre business. Net sales for the company rose one per cent to INR9470,950m. Analysts, on an average, were expecting a profit of INR819,400m on revenue of INR8806.850m, according to a Bloomberg poll. The consolidated results of the Aditya Birla Group company include the performance of UltraTech Cement, vis... |
India: labourers at Teriyklam cement seek payment31 January 2017, Published under Cement NewsTeriyklam cement factory has been accused by a Member of the Legislative Assembly (MLA) of not paying 42 labourers their wages for the past few months, from three villages of Odisha’s Ganjam. Digapahandi MLA and former Minister SN Patro has urged the State Labour Secretary to look into the issue. The labourers had been working at the Teriyklam cement factory in the Tuticorin district of Tamil Nadu, Mr Patro said. "When they demanded their money, the labour contractor threatened to registe... |
India: Malabar Cements Ltd official is arrested31 January 2017, Published under Cement NewsPrakash Joseph, legal officer of public sector Malabar Cements Ltd, was arrested on Monday by the Vigilance and Anti-Corruption Bureau (VACB), reports the Hindu. Malabar Cements Ltd is estimated to have madea finiancial loss of INR270m (US$3.98m). The State government-owned PSU had signed a contract with a company owned by businessman VM Radhakrishnan for cement retailing. Violating an agreement between the two firms, top officials of Radhakrishnan’s firm had withdrawn the mandatory secur... |
India's Central Pollution Control Board issues waste guidelines30 January 2017, Published under Cement NewsIndia's Central Pollution Control Board (CPCB) has issued guidelines to ensure that millions of tonnes of hazardous, municipal, industrial and agro-waste is properly recycled and used in cement plants as fuel. The proposed guidelines will not only ensure that the waste is recycled but also help in tackling pollution, claims the CPCB. "The production of cement in India is about 300Mta, for which estimated coal and raw material (limestone, iron ore, clay, bauxite) requirement are 50Mta... |
India Cements Ltd announce 3Q16 profits of US$519.6m30 January 2017, Published under Cement NewsIndia Cements Ltd registered net profit at INR35,340m (US$519.6m) for the third quarter ending 31 December 2016 in the back of strong sales volume and lesser cost of production. The cement company registered net profit at INR3160m during the corresponding quarter of the previous year. For the nine-month period, net profit surged to INR141,730m from INR79,460m registered during the year ago period. Declaring the results, India Cements Ltd Vice Chairman and Managing Director, N Srinivasa... |
Black market cement traders caught in western India24 January 2017, Published under Cement NewsThane police on Tuesday claimed to closed down an illegal trade in cement, wherein waste cement from railway yard warehsoue is collected and sold under the name of renowned brands. A raid was conducted at Balkum, Sr Police Inspector, Niteen Thackeray, said. Five people were accused were found collecting waste cement unloaded at the railway yards at Kalwa, Thane, Kalyan and Mulund railway stations. They used to package the collected cement in gunny bags with brand names and sell them at reg... |
UltraTech Q3FY17 reports post-tax profit up 5%23 January 2017, Published under Cement NewsUltraTech Cement reported a 4.7 per cent rise in consolidated net profit at INR59.39bn (US$871.6m) for the quarter ended 31 December 2016 due to lower expenses. In 3Q15 company, owned by Aditya Birla Group, recorded net profits of INR56.67bn. Consolidated total income from operations fell to 67.61bn from INR68.65bn in the same period. Profit before interest, depreciation and tax was INR12.80bn as compared to INR12.74bn in the same period of the previous year. Profit After Tax (PAT) wa... |
India: Seven cement firms fined for bid-rigging20 January 2017, Published under Cement NewsThe Competition Commission of India (CCI) has imposed fines totalling more than INR2bn (US$30m) on seven cement firms it found guilty of colluding in their responses to a 2012 tender from Haryana state, Indian media reports. The companies have each been fined 0.3 per cent of their average annual turnover for the past three years. Ultratech faces the largest penalty, at INR683m – around a third of the total. The other firms fined were Jaiprakash Associates, ACC, Ambuja Cements, Shree Cemen... |