Page 5 - Cement Sector

Competition Commission to conduct market study on cement sector in India

To ensure fair competition and consumer benefits in the cement industry, the Competition Commission of India (CCI) has decided to conduct a pan-India market study on the cement sector. According to CCI, given the criticality of cement for many vital sectors, well-functioning and competitive cement market is of utmost importance. The fair trade regulator on Friday said that it has decided to conduct a pan-India market study on the cement sector. "Cement is a critical input in crucial sectors of the economy such as housing and infrastructure. "These sectors have well-known forward and backward linkages with a range of other industries, thereby having the potential to influence the overall growth trajectory of the economy," according to an official release. The market study aims to investigate the structural features of the cement market, as well as potential collusion issues, to ensure fair competition and consumer benefits in this critical industry. It will also provide valuable ..

Cement sales to grow 10% in FY24 led by infra, urban housing demand: Report

The cement sales volume is expected to have a healthy 9 to 10 per cent growth in the current fiscal, led by demand from infrastructure and urban housing sectors, according to a report. In the first half of this fiscal, the industry had a volume growth of around 12 per cent in the April-September period, said a report from rating agency Icra. However, there would be "some moderation in growth in H2" on account of below-normal monsoons on the overall crop output, adversely impacting farm incomes and demand for rural housing in some markets, it added. "Moreover, with the upcoming state elections the release of funds towards ongoing infra projects may slow down, posing some downside risks to cement volume off-take in H2 FY2024," it said. However, the operating margins for the cement industry is expected "to improve by 260-310 bps to 16.0-16.5 per cent in FY2024". The increasing focus on green power is likely to lower the cement industry's dependence on high-cost thermal power and grid

Some headwinds emerge for India's cement sector amidst high valuations

The capex of the past year or two will probably result in over-supply

Will explore acquisition possibilities at the right price: Shree Cement V-C

The cement sector is seeing heightened activity with top players such as UltraTech, Ambuja-ACC, Dalmia, and JSW looking to increase their share

Despite a mixed 1st quarter, cement sector's FY24 outlook looks concrete

However, as competition and fresh capacity is also rising, scale and ability to control costs will play a crucial role

Sanghi Ind freezes at 5% upper circuit as Ambuja eyes buying majority stake

The acquisition would further strengthen the presence of Ambuja-ACC in the Western market (whose current share is 20 per cent), according to ICICI Securities

Ambuja Cements Q1FY24 profit up 31% YoY to Rs 1,135 crore, margins expand

Ambuja Cements Q1FY24 results: Shares of Ambuja Cement slipped 2 per cent in the intra-day trade to Rs 452 apiece

Shree Cement to invest Rs 7,000 crore to add 12 million tonnes of capacity

The company has also decided to diversify into ready mix concrete business and will start setting up five RMC units in the country by the end of this financial year

Favourable winds blowing for cement sector, demand remains strong

Most of the majors have good balance sheets with low debt-to-Ebitda ratios

Investors should remain upbeat on cement sector; price hike is a positive

Consider companies that can grow their market share and lower cost per tonne

Cement shares in focus; UltraTech, Dalmia Bharat hit 52-week highs

Most managements continue to be positive on the cement demand, led by the government's thrust on infrastructure projects, pick-up in urban real estate, and likely recovery in the rural segment.

Grasim, UltraTech: Cement stocks eye up to 10% upside on GST review

The overall sentiment towards the cement stocks has remained lacklustre amid a gradual decline in their share prices, and a reduction in GST could help to lift this sentiment.

Aided by subsidiary sale, India Cements record net profit of Rs 90.73 crore

The exceptional income item of Rs 294.28 crore is the profit on sale of investments made in Springway Mining Private Ltd

IRM India Affiliate, Ultratech to bolster risk-readiness in cement sector

The two will be organising webinars, roundtables, industry meetings, and thought leadership articles towards knowledge building for the sector

Is the worst over for the cement sector?

The cement industry has been one of the worst impacted this year with monumental declines in profits. But, as price hikes make a comeback, will the industry see a turnaround?

Acquisition of JP's cement capacity a good long-term move by Dalmia

After acquisition, Dalmia's capacity mix will include 52 per cent in the east, 26 per cent in the south, 16 per cent in the central region and 6 per cent in the west

Jaypee Power board meet on Monday over divestment of cement grinding unit

Jaypee group firm Jaypee Power Ventures will hold a board meeting on Monday to consider a proposal to divest its Nigrie cement grinding plant in Madhya Pradesh. In a regulatory filing, Jaypee Power Ventures informed that a board meeting has been convened on Monday to "apprise the board of the recommendations of the Audit Committee to consider the proposal of divestment of Jaypee Nigrie cement Grinding unit." Separately, Jaypee Group flagship firm Jaiprakash Associates informed that a board meeting has been convened on Monday to apprise the board of the recommendations of the audit committee and the progress on the various divestment initiatives. Jaiprakash Associates Ltd (JAL) presently has an aggregate capacity of around 6 million tonnes per annum (MTPA) and Jaiprakash Power Ventures Ltd has around 4 MTPA. In October, Jaiprakash Associates and Jaiprakash Power Ventures had announced plans to divest their cement business as well as some non-core assets to reduce debt. Sources h

There's upside potential in Cement sector as prices rise across regions

Analysts expect H2 to be better and infra spending to be hiked in the Budget; benign energy prices and demand improvement are other triggers

JK Lakshmi Cement hits record high, stock soars 28% in November

The stock was trading higher for the third straight day and has gained 6 per cent during this period.

Price hikes may not stall cement companies' profit dip: CareEdge

Operating profit margins likely to contract by 320-380 basis points to 16.3-16.8 per cent in FY23, says CareEdge Ratings, as input cost pressures remain