India: mining law changed to assist cement mergers
The upper house of India’s parliament on Monday approved an amendment to the mining law, allowing the transfer of mines from sellers to buyers in a victory for the State Bank of...
India
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India: UltraTech’s profits rise to US$109m for 1Q16
UltraTech Cement’s quarterly earnings statement for 1Q2016 show consolidated net profit growth of 10 per cent reaching INR7.23bn (US$109m) for the year to March, according to a ...
Ambuja Cements reports 4.4% profit fall
India’s Ambuja Cements has reported a 4.4 per cent fall in net profit, which reached INR3.038bn (US$45.6m) in 1Q16. In the first quarter of 2015, net profit reached INR3.177bn. ...
India: government approval for new UltraTech plants at Nawalgarh and Jaitaran
The Jaipur government cleared the construction of a new 3.3Mta cement unit at Nawalgarh (Jhunjhnu) by UltraTech Cement Ltd. "Investment of worth INR3000 crore [INR30bn/US$451m] ...
Pakistan: Exports fall 24% in first nine months of 2015/16
Pakistan’s cement exports fell during 9MFY2016 on a YoY basis dropping by 24.4 per cent in volume terms and 28.9 per cent in US dollar values. Figures released by the Pakistan B...
UltraTech profits rise 10% in 1Q16, operational costs cut
UltraTech Cement, India reported a 10 per cent YoY rise in consolidated profit after tax for the quarter ended March. The company reported a consolidated net profit of INR7230m ...
Morgan Stanley: cement consumption to grow 4% YoY to 2020
New research from Morgan Stanley predicts that worldwide cement demand excluding China has turned a corner and will grow at an annualised rate of four per cent between 2016 and ...
India: Jaypee reduces northern cement supply
Debt-laden Jaiprakash Associates Ltd has withdrawn itself from some of its cement markets in north India as part of streamlining its operations even as lenders continue to prod ...
India: Piramal invests US$38m in Gujarat cement company
Piramal enterprises has invested US$38.4m in Sanghi Industries, a Kutch-based cement company with 4.1Mta capacity and plans to add a further 4Mta. Earlier in the month, Sanghi e...
Mobile cement app launched by OCL India
Dealers of OCL India Limited, the makers of Konark Cement, can now place cement orders through mobile phones. The Suvidha app has been launched as an android app in Bhubaneswar.