With industry focus shifting to volume growth in the closing quarter of the year, the likelihood of substantial price hikes in the near-term remains low due to the continued high competitive pressure
Aditya Birla Group's UltraTech Cement acquired 55.49% stake in India Cements and 8.69% stake in Star Cement for Rs 851 crore in 2024
Goldman Sachs reportedly has maintained a 'Buy' rating and increased its target price to Rs 12,580, up from Rs 12,460, citing volume recovery and lower costs contributing to margin improvement
India's largest cement maker beats analyst estimates despite a 17.3% Y-o-Y fall in net
Going forward, UltraTech expects to generate a sustainable volume growth of 7- 8% on likely government focus on infrastructure and housing projects, alongside increased rural and urban demand.
Ultratech Cement Q3FY25 results: Sequentially the cement firm saw a 79% increase in net profit
The uptick in the UltraTech Cement share price came in anticipation of Q3 results, which will be announced later in the day
Q3FY25 company results, January 23: Two Adani entities including Adani Energy Solutions and Adani Green Energy will release results for the Oct-Dec quarter today
Aditya Birla Group company to expand presence in East India with new acquisition
The renewed investor interest in the cement shares came on the back of reports that cement dealers have initiated price hikes since the start of December
Leading cement maker UltraTech Cement has received a notice from the fair trade regulator CCI over its proposed acquisition of the South-based India Cements Ltd. UltraTech Cement, in a regulatory filing, said it has received notice from the Competition Commission of India (CCI), and the Aditya Birla group flagship firm is confident in the merits of its case. "The Company has received a communication from the Competition Commission of India under Section 29 (1) of the Competition Act, 2002, regarding the proposed acquisition of The India Cements Ltd. The Company will be responding to the same," said UltraTech. The southern market for grey cement, where India Cements primarily operates, is highly competitive and fragmented, with the presence of over 35 grey cement manufacturers. "We are confident of the merits of our case," the Aditya Birla Group firm said. Under the CCI Act, where the fair trade regulator is of the opinion that a combination is "likely to cause, or has caused an ..
While FY25 is seeing slow growth and subdued govt spending, CareEdge maintains a long-term outlook aligned with India's broader growth strategy with housing, continuing to be primary driver of cement.
Shares of Ultratech Cement rose as much as 2.90 per cent at Rs 11,525 a piece on the BSE in Monday's intraday trade
Cement and ready-mix concrete (RMC) company UltraTech Cement on Thursday said it has signed a collaboration agreement with the Institute for Carbon Management (ICM) for a new technology to reduce carbon dioxide emissions from cement production. The new technology, The Zero Carbon Lime (ZeroCAL), developed by ICM at the University of California, Los Angeles, can nearly reduce 98 per cent carbon dioxide emissions associated with limestone decomposition in cement manufacturing, the company said in a statement. ICM, in partnership with UltraTech, will build a first-of-a-kind demonstration plant for the technology at one of UltraTech's integrated cement manufacturing units, it added. "Partnerships like these, which place an emphasis on developing and deploying new and emerging technologies, will be a key enabler in our sector's efforts to accelerate decarbonisation and deliver carbon neutral concrete by 2050," UltraTech Managing Director K C Jhanwar added.
The management believe that new infrastructure project orders will start gaining momentum, although it has been a subdued start from Q1 and during the reported quarter.
Barring HeidelbergCement most of the cement stocks look technically weak on the charts; Ambuja Cements is on the verge of seeing a 'Death Cross' formation on the daily chart.
UltraTech Cement's consolidated profit dropped 36 per cent year-on-year (Y-o-Y) to Rs 825 crore in the September quarter of FY25, from Rs 1,280 crore in the September quarter of FY24.
Cement sale volume slow down, growing at three percent YoY in Q2
UltraTech Cement's consolidated net profit for the quarter stood at Rs 820.04 crore, down 36.01 per cent from Rs 1,281.45 crore in the year-ago period
F&O market update Oct 18: The Nifty options data suggests likely resistance for the index near 24,800 - 25,000, and support between 24,500 - 24,700; says Dupesh Dhameja of SAMCO Securities.