Shree net profit down on weaker sales, India
Shree Cements on Wednesday reported a 46.39 per cent dip in standalone net profit at to INR1.198bn (US$18.8m) for the third quarter that ended on 31 March 2015 due to a decline ...
India
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Shree completes acquisition of Jaiprakash grinding unit, India
Shree Cement has completed the acquisition of a cement grinding unit of Jaiprakash Associates in Haryana state, India. “The acquisition of a 1.5Mta cement grinding unit of Jaipr...
UltraTech full-year net profit down 6% YoY
India’s largest cement manufacturer UltraTech Cement reported a six per cent drop in its net profit for the year ended 31 March 2015 to INR20.15bn versus INR21.44bn in the previ...
Jaiprakash Associates to seek shareholders' approval for divestments to UltraTech
Jaiprakash Associates Ltd will next month seek approval from its shareholders and creditors for the proposed sale of its cement units to UltraTech Cement. "Pursuant to an order ...
Pakistan export volumes and revenues down over first nine months
Pakistan cement exports in the first nine months of the current fiscal fell 6.75 per cent YoY to 6Mt. Export revenues, meanwhile, were down by 6.86 per cent to US$349.04m over t...
Century Textiles to reportedly spin off cement unit
Century Textiles, owned by Birla patriarch Basant Kumar Birla, will spin off its cement business and merge it in an all-share deal with UltraTech Cement, owned by grandson Kumar...
Shree Cement enhances capacity by 2Mta, India
Shree Cement Ltd has informed the Bombay Stock Exchange that the company has completed the phase 2 of its new Ras new unit at Bangur city Ras, Pali district, Rajasthan. The proj...
ACC quarterly volumes lower on weaker demand
ACC reported a decline in sales volumes for the January-March 2015 period due to weaker cement demand from the infrastructure and the general construction sectors, India’s secon...
Fitch affirms Holcim at 'BBB'; Outlook Stable
Fitch Ratings has affirmed Holcim Ltd's (Holcim) Long-term and Short-term Issuer Default Ratings (IDR) at 'BBB' and 'F2', respectively. The Outlook is Stable. "The affirmation r...
Nomura expects Indian demand recovery in FY16
Nomura expects Indian cement companies to see demand recover in the current fiscal year, after a weak ending to fiscal 2015 in March. The broker expects Indian cement companies'...