India

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India: Malabar Cements Ltd official is arrested

India: Malabar Cements Ltd official is arrested

Prakash 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...

UltraTech Q3FY17 reports post-tax profit up 5%

UltraTech Q3FY17 reports post-tax profit up 5%

UltraTech 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,...

India: Seven cement firms fined for bid-rigging

India: Seven cement firms fined for bid-rigging

The 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 t...

India: Binani Compat appeal dismissed

India: Binani Compat appeal dismissed

India’s Competition Appelate Tribunal (Compat) has dismissed the appeal of Binani Cement seeking waiver of the direction to deposit with it 10 per cent of the total penalty amou...

India: JSW Bellary expansion to 3.4Mta

India: JSW Bellary expansion to 3.4Mta

JSW Cement Ltd is set to raise its installed capacity from 1Mta to 3.4Mta at its Bellary Plant in Karnataka. "We are increasing the cement manufacturing capacity from current 1M...