Page 2 - Ultratech Cement Acc

UltraTech acquires grinding assets of Burnpur Cement for Rs 169.79 cr

Aditya Birla group firm UltraTech Cement Ltd on Wednesday said it has acquired the cement grinding assets of Burnpur Cement Ltd in Jharkhand for Rs 169.79 crore. The company has acquired 0.54 mtpa cement grinding assets of Burnpur Cement Ltd, located at Patratu in Jharkhand, UltraTech Cement said in a regulatory filing. "The acquisition has been carried out at a consideration of Rs 169.79 crore in terms of the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with the Security Interest (Enforcement) Rules, 2002," it added. This investment marks the company's entry in Jharkhand, the filing said, adding the company's capacity in India now stands at 133 mtpa. Last year state-owned Punjab National Bank (PNB) had put up for sale the account of loss-making Burnpur Cement and invited bids from Asset Reconstruction Companies (ARCs) to recover loans outstanding of over Rs 50 crore.

UltraTech Cement announces third capex round worth Rs 13,000 crore

To take India capacity to 182 MTPA in a phased manner starting FY26

UltraTech Cement may present details of second phase of expansion by Dec

Company likely to present details of its second phase of expansion by December this year

Cement companies boost ad and sales spend in race for market share

UltraTech was the biggest spender, Dalmia Cement saw highest jump in expenses in FY23, shows data

UltraTech Cement Q1 results: Net profit jumps 6.5%, revenue up 16.9%

The profit before interest, depreciation and tax was Rs 3,223 crore, compared to Rs 3,204 crore year-on-year (YoY)

ACC, Ambuja, Dalmia Cement: Analysts remain selective on cement stocks

UBS and Nomura expect volume growth of 10 per cent and 8 per cent, respectively, in FY24 aided by an uptick in the real estate cycle.

Cement shares in focus; UltraTech hits 52-week high, Ambuja surges 4%

Profitability of cement companies are likely to improve in fiscal 2024, owing to softening of coal and pet coke prices and better operational efficiency, says Crisil Ratings.

Improving profitability, lower debt to give strength to UltraTech Cement

Operating performance in Q4 was in line with estimates

Ultratech drops out of race to buy Jaiprakash Associates' cement assets

Lack of agreement over valuation spurs decision; deal would have provided relief to Indian lenders, which have an exposure of Rs 28,753 crore to Jaiprakash

Dalmia, Sagar Cements in race to buy debt-ridden Andhra Cements

Jaypee-owned firm undergoing bankruptcy process

Cement cos regain pricing power as demand improves from infra, construction

Cost pressures a concern, though, as crude, currency volatility remain

Adani to buy Jaypee cement units; JSW buys India Cements' MP unit

Adani aims to become India's top cement company by 2030; rival Ultratech stepping up capacity

UltraTech, JSW in race to acquire India Cements' project in Madhya Pradesh

India Cements had indicated in its FY22 annual report that it had acquired 184.53 hectares of limestone-bearing land at Pawai Tehsil in Panna District of Madhya Pradesh.

With Q2 history against them, cement stocks' valuations looks stretched

Most analysts have a 'sell' or 'reduce' recommendation on the sector

UltraTech profit falls 7% due to increased fuel and power costs hit

It still beat Q1 estimates despite decline on both YoY and sequential bases

UltraTech expansion plans suggest higher competition likely in cement biz

Other key players have also announced plans to significantly raise capacities

Stocks to Watch: Maruti, HDFC, SBI Cards, Tata Coffee, Wipro, Star Health

Stocks to Watch Today: Shares of Adani Wilmar, Jindal Stainless, Adani Enterprises, Hero MotoCorp, Tata Steel and Titan too shall be in focus ahead of the Q4 results.

ACC, Grasim, India Cements can gain up to 12% post breakout, hint charts

Going ahead, charts indicate likely revival in investor sentiment with further uptick in prices.

Input cost worries! ACC, Ambuja, UltraTech slip 3%; down heavily in a month

Apart from higher coal/petcoke prices, the recent increase in crude prices/ocean freight rates may further put pressure on operating costs for the cement industry.

Grasim Industries' net profit jumps 23% to Rs 2,655 cr in Dec quarter

The company had posted a net profit of Rs 2,157.12 crore during the October- December quarter of the previous financial year, Grasim Industries said in a regulatory filing