Page 7 - Cement Industry

UltraTech stock at Rs 11,500? Check latest target price post Q4FY24 results

The shares, on Tuesday, jumped over 2.38 per cent to hit an intraday high of Rs 10,200 apiece, following the result announcement

Dalmia Bharat Q4 results: Net profit declines to Rs 315 cr, beats estimates

Cement makers usually report strong sales volumes in the March quarter as they lower prices to clear year-end inventory backlogs

Adanis invest another Rs 8,339 cr in Ambuja Cements, promoter stake up 70%

Completes fund infusion of Rs 20,000 crore, promoter stake now at 70.3 per cent

China expected to keep key rate, liquidity steady to cement recovery

The People's Bank of China will keep the rate on its medium-term lending facility unchanged at 2.5% Monday, according to all 19 analysts surveyed by Bloomberg

Result preview: Analysts note 'unusual' quarter for cement sector

Expect healthy year-on-year growth in margins in Q4, but sequential decline

Top 4 cement firms on capacity expansion spree, plan to add 42 mtpa in FY25

The top four combined are expected to increase their share in total capacity to 54 per cent by FY26, from 48 per cent in FY23

UltraTech Cement to invest Rs 32,400 crore in the next three years

Commissions two greenfield plants adding 5.4 mtpa in Chhattisgarh and Tamil Nadu

Adani family invests Rs 6,661 crore in Ambuja Cements via warrants

The latest fund infusion will take Adani family stake in the cement co to 66.7 per cent

Shree Cement enters ready mix concrete segment with 1st greenfield project

Shree Cement, one of the top three players in the segment, on Friday announced entry into the ready mix concrete (RMC) segment with the commissioning of its first greenfield in Hyderabad. The new RMC plant has a capacity of 90 cubic metres per hour and would help the Bangur family-promoted firm to emerge as a multi-product player in the cement business, as per a company statement. "As part of this strategy, Shree Cements had acquired five operational plants of StarCrete LLP in Mumbai earlier this month for a consideration of Rs 33.5 crore. The company's combined RMC capacity now stands at 512 cubic metres per hour," it said. Shree Cement Managing Director Neeraj Akhoury said the venture into the RMC segment marks Shree Cement's entry into a new line of business. "We recognise the vast potential of RMC business, which is being driven by India's growth momentum, the concerted efforts of both central and state governments to advance infrastructure projects and an uptick in the housing

UltraTech Cement receives CCI's approval to acquire Kesoram Cement

Fair trade regulator CCI on Tuesday granted approval to UltraTech Cement's proposed acquisition of Kesoram Cement Business from Kesoram Industries. Kesoram Industries is engaged in the manufacture of grey cement through the Kesoram Cement Business. The proposed combination relates to the acquisition of the grey cement business of Kesoram Industries Limited by UltraTech Cement Ltd pursuant to a composite scheme of arrangement dated November 30, 2023, according to a release. The Competition Commission of India (CCI) said it has cleared the deal. UltraTech is a public-listed company in and is engaged in the business of the manufacture and sale of grey cement, white cement, ready-mix concrete, clinker, and building products in India. The company is also engaged in the provision of building solutions in India. It is a subsidiary of Grasim Industries Ltd. In November last year, UltraTech Cement announced it was set to acquire the cement business of BK Birla Group's flagship company Kes

Improving margins likely to help Ambuja Cements emerge as an outlier

Ambuja Cement could increase its EBITDA margin from 13.2% in FY23 to around 19.5% in FY24, with continued gains likely in FY25 and FY26 due to effective cost control and increased scale

Ambuja Cements to invest Rs 1,000 cr to set up grinding plant in Jharkhand

Ambuja Cements, now a part of Adani Group, on Wednesday said it has planned to invest Rs 1,000 crore to set up a cement grinding unit in Godda district of Jharkhand. The new 4 Million Tonne Per Annum (MTPA) cement grinding unit would be set up after requisite approvals, Ambuja Cements Ltd (ACL) said in a statement. This project is "planned in the close proximity to Adani Power (Jharkhand) Ltd, as part of a comprehensive approach to disposing of fly ash in an environmentally safe manner and contributing to the circular economy," it said. The unit will generate direct and indirect employment for over 2,500 people, it added. Ambuja Cements operates two cement plants in Jharkhand with a combined capacity of 6 MTPA. "We believe that Jharkhand holds immense potential in terms of resources, infrastructure, and skilled manpower, making it an ideal location for this project. We look forward to working closely with the state to ensure the successful implementation of this project," Ajay Kap

Germany's Thyssenkrupp to divest stake in Indian arm to local partners

The statement said that it is "intended and envisaged" that Thyssenkrupp Polysius and tkII would remain close cooperating partners

Expected Infrastructure push sets South India's cement market in motion

Industry majors and analysts expect the rise in overall infrastructure capital outlay in the Interim Budget to Rs 11.11 trillion in 2024-25

JK Lakshmi Cement Q3 results: Profit jumps 69% to Rs 124 crore on demand

The company, the construction materials arm of JK Group, said net profit after tax rose to Rs 124 crore (around $15 mn) for the quarter ended Dec 31, from Rs 73.59 crore a year earlier

Shah Rukh Khan vs Sunny Deol in the battle for India's cement demand

Celebrities become the face of an industry evolving with rising demand and changing consumer patterns

Cement sales growth in Q3 subdued at 3-4%, say industry executives

Industry executives attributed the impact on demand to a host of factors, including floods in South India, construction bans in the National Capital Region, and fiscal challenges in Bihar, Jharkhand

Orient Cement Q3 results: Net profit rises by 63.5% to Rs 45 crore

CK Birla group firm Orient Cement Ltd on Monday reported a 63.54 per cent increase in consolidated net profit to Rs 44.99 crore for the December quarter. The company had reported a net profit of Rs 27.51 crore in the year-ago period, Orient Cement Ltd (OCL) said in a regulatory filing. Its revenue from operations rose 2.6 per cent to Rs 751.30 crore during the quarter under review from Rs 732.29 crore a year ago. OCL's total expenses were down 1 per cent to Rs 681.44 crore in the third quarter of the ongoing fiscal. Its total income was at Rs 753.22 crore, up 2.7 per cent in the December quarter. Meanwhile, in a separate filing, OCL said its board has approved the reappointment of Desh Deepak Khetrapal as the Managing Director and Chief Executive Officer of the company, subject to approval of the shareholders, for a period of one year. Shares of Orient Cement Ltd on Monday settled at Rs 267.10 on the BSE, down 4.42 per cent from its previous close.

India Cements Q3 result: Loss of Rs 16.5 cr due to subdued demand

India Cements reported a loss for the third quarter on Thursday, hit by subdued demand due to a slow down in construction activity ahead of elections and cyclone in some states

Ambuja Cements Q3 results: Consolidated net profit up 89.5% at Rs 823 cr

Reported profit after tax for the company was at Rs 1,090 crore, up 123 per cent from a year ago