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Cement Industry

Star Cement proposes Rs 3,200-cr plant in Assam, agreement signed

Star Cement Ltd has proposed to set up a Rs 3,200-crore cement clinker and grinding plant in Assam. A Memorandum of Understanding (MoU) in this regard was signed between the state government and the company on the concluding day of the Advantage Assam business summit on Wednesday, Chief Minister Himanta Biswa Sarma said. Apart from this, an agreement was inked between the state government and Matheson Hydrogen Lvt Ltd, which is willing to set up a Rs 1,500-crore hydrogen and steam generation plant. The state government also signed a Rs 500-crore MoU with Global Health Ltd, while two non-financial agreements were signed with ITE Education Service. Sarma said he was grateful to the companies for their support, and noted that more agreements will be signed during the day. A total of 164 MoUs of investment proposals with companies in 15 sectors were signed on day one of the 'Advantage Assam 2.0 Investment and Infrastructure Summit 2025' on Tuesday.

Updated On: 26 Feb 2025 | 1:33 PM IST

UltraTech Cement lines up Rs 1.8K crore capex for cables biz foray

Over the past few years, Aditya Birla Group has also adopted a closer-to-the-end-consumer approach, with an expanded presence in jewellery, fashion retail, real estate, and paints

Updated On: 25 Feb 2025 | 11:26 PM IST

Top 5 cement makers adopt different strategies amid Q3 earnings slump

For the October-December 2024 period, analysts and industry executives estimated demand growth of 4-5 per cent at the industry level

Updated On: 03 Feb 2025 | 11:00 PM IST

Increased spending on housing projects will drive demand: Cement makers

Increased spending on large-scale housing and infrastructure projects announced in the Budget by the finance minister Nirmala Sitharaman will drive demand for construction materials, and allow capacity expansion, said cement makers. The Budget presents a vision for India's economic growth emphasising rural and urban development, increased infrastructure investment, employment-led growth and strategic investments, said the Cement Manufacturers' Association (CMA) welcoming the Union Budget. "The focus on increased investments on infrastructure across states amplifies opportunities and avenues for the growth of the cement sector. We appreciate the sustained core focus on infrastructure and reiterate our commitment to being partners in the Nation's progress," said CMA President Neeraj Akhoury. Moreover, the government's push on large-scale housing and infrastructure projects will drive demand for construction materials and help in capacity expansion, he said. "We are certain that despi

Updated On: 01 Feb 2025 | 8:39 PM IST

Key infra sectors' growth slows to 4% in Dec 2024, shows govt data

The output of eight key infrastructure sectors slowed down to 4 per cent in December 2024, as against 5.1 per cent growth registered a year ago, according to official data released on Friday. On a monthly basis, the growth rate in the production of these sectors was lower than the 4.4 per cent expansion recorded in November 2024. In December, production of natural gas output recorded a negative growth. The production growth of coal, refinery products, fertiliser, and steel moderated to 5.3 per cent, 2.8 per cent, 1.7 per cent, and 5.1 per cent, respectively, against 10.8 per cent, 4.1 per cent, 5.9 per cent and 8.3 per cent in December last year. However, cement and electricity output rose to 4 per cent and 5.1 per cent in the month under review. The growth of core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 4.2 per cent during April-December this fiscal. It was 8.3 per cent in the same period last fiscal. The eight

Updated On: 01 Feb 2025 | 12:03 AM IST

Ambuja Cements Q3 results: Net profit more than doubles to Rs 2,115 cr

Higher volume, one-time tax-related reversals and receipt of certain governemnt incentives aided profitability

Updated On: 29 Jan 2025 | 8:20 PM IST

UltraTech in advanced talks to acquire HeidelbergCement in Rs 3,381 cr deal

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

Updated On: 27 Jan 2025 | 11:52 PM IST

Most brokerages lift targets for UltraTech Cement as Q3 nos. top estimates

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

Updated On: 24 Jan 2025 | 10:33 PM IST

18 school students hospitalised in Chhattisgarh, locals blame cement plants

At least 18 students of a government school were hospitalised on Wednesday after they complained of uneasiness in Chhattisgarh's Balodabazar-Bhatapara district, officials said. While officials said the exact reason behind the situation was yet to be ascertained, locals claimed pollution from nearby cement plants was causing serious health issues for them. During the day, the authorities, however, shut down the Alternate Fuel Resources (AFR) centre at one cement plant in the area over the alleged violation of green norms. At least 18 students of Government Higher Secondary Girls School at Khapradih village complained of uneasiness and drowsiness following which they were shifted to the Community Health Centre in nearby Suhela, Balodabazar-Bhatapara Collector Dipak Soni told PTI. Later, six of them were referred to different facilities, including the district hospital, he said. Their condition was reported to be stable, he said. Complaints were received about pollution at AFR centr

Updated On: 22 Jan 2025 | 10:40 PM IST

UltraTech to buy 8.69% stake in Meghalaya-based Star Cement for Rs 851 cr

Aditya Birla Group company to expand presence in East India with new acquisition

Updated On: 27 Dec 2024 | 11:33 PM IST

Cement industry eyes 8% growth in 2025 on infra boost, higher margins

The Indian cement industry, witnessing a consolidation and heightened rivalry between two corporate houses snapping smaller players, pins its hope on 2025 for an improvement in sales realisation, higher margins and acceleration in demand, expecting around 8 per cent sales growth helped by an increased government spendings on big-ticket infra projects. Over 50 MTPA (million tonnes per annum) capacity are being acquired for USD 4.5 billion by two leading players - Aditya Birla group firm UltraTech Cement and billionaire Gautam Adani-led Ambuja Cements, besides organic expansion of the existing units as they have kept their war chest ready prowling for opportunities. The industry faced challenges on numerous fronts in 2024, right from moderate capacity utilisation to lower sales realisation, which impacted the topline of several makers, contraction of margins and slower volume growth. However, 2024 would also be known for big-ticket acquisitions by UltraTech and Adani Cement to ...

Updated On: 25 Dec 2024 | 2:16 PM IST

Ambuja Cements to merge Sanghi Industries, Penna Cement with self

The Adani Group-promoted firm had acquired SIL and PCIL in 2023 and 2024 respectively

Updated On: 17 Dec 2024 | 8:54 PM IST

Ambuja Cements commissions 200 MW solar power project in Gujarat

Ambuja Cements, part of Adani Group firm, on Friday announced the commissioning of a 200 MW solar power project in Khavda, Gujarat, to supply green power to 20 cement plants. The Khavda project is part of Adani Cements' plan to have 1 GW of renewable power from solar and wind projects, along with 376 MW from WHRS (Waste Heat Recovery Systems). "The balance 806 MW capacity from this project is at various stages of commissioning and expected to start transmitting in phases between March 2025 and June 2025," said a statement. Of the remaining 806 MW capacity from this project, 156 MW of wind power from Khavda and a further 300 MW of solar power from Rajasthan are expected to be commissioned by March 2025 in phases. The balance of 350 MW of solar power is expected to be commissioned by June 2025. This will "positively impact the company's EBITDA" as this development leads to an impressive 70 per cent savings compared to current power cost, it added. The company is spending around Rs

Updated On: 13 Dec 2024 | 8:54 PM IST

Ultratech to Shriram Cement: Price hikes key trigger for cement majors

Ultratech Cement saw volumes up 3 per cent, while Shriram Cement was the top volume gainer at 9 per cent, with Dalmia Bharat up 8 per cent

Updated On: 02 Dec 2024 | 10:48 PM IST

Holcim to sell Lafarge Africa stake to Huaxin Cement in $1 billion deal

The transaction is expected to close in 2025, subject to regulatory approvals, Holcim's statement said

Updated On: 01 Dec 2024 | 4:31 PM IST

Icra revises down growth forecast for cement industry to 4-5% for FY25

Rating agency Icra has revised down its volume growth forecast for the cement industry to 4-5 per cent at 445-450 million tonne for the current fiscal on account of sluggish construction activity. In July this year, Icra had forecast a year-on-year volume growth of 7-8 per cent, expecting a better pick-up in demand in the second half. However, Icra has now revised its projection "on account of slower-than-expected ramp-up in construction activity across the housing and infrastructure sectors, post the General Elections," a statement said. Besides, on a YoY basis, the operating profit margins declined by 375 basis points to 12 per cent in Q2 FY2025 and by 192 bps to 14 per cent in H1 FY2025 as prices remained under pressure due to muted demand and oversupply. In the first half of FY25 all-India cement volumes witnessed a muted rise of 2 per cent YoY to 212 million tonne on account of the slowdown in construction activity in Q1 during the elections, followed by the ample monsoon ...

Updated On: 27 Nov 2024 | 2:44 PM IST

Ramco Cements rallies 7%, hits 9-month high on hopes of healthy H2 outlook

After a muted H1FY25, analysts expect that operational performance would improve in H2FY25 led by demand pick-up in south/east region & improvement in prices and continuous operational efficiencies.

Updated On: 12 Nov 2024 | 11:17 AM IST

Shree Cement Q2FY25 results: Net profit declines 83% to Rs 76.44 crore

Shree Cement maintained its capital expenditure (capex) target to expand capacity to 80 million tonnes per annum

Updated On: 11 Nov 2024 | 6:18 PM IST

Low demand, intense competition in Q2: Top cement cos grow, others tumble

UltraTech, Dalmia, and Ambuja Cements are the only companies that reported growth in volumes compared to a year ago

Updated On: 01 Nov 2024 | 11:54 PM IST

Increased pace of capex will help achieve targeted growth: Adani Cement CEO

The pace of capex (capital expenditure) has increased, which will help Adani Cement "achieve targeted growth ahead of time", said Adani Group Cement Business CEO Ajay Kapur in an investors' call on Monday. The Adani group, which had last week announced the acquisition of Orient Cement, aims to have a manufacturing capacity of 140 million tonnes per annum (MTPA) by FY28. "Adani Cement will benefit from accelerated growth, lower costs and good synergies, all of which will contribute to leading the market and achieving sustainable performance in the near future. The pace of capex has increased, which will help to achieve targeted growth ahead of time," said Kapur. Ambuja Cement, part of Adani Group, which houses all cement assets, is a debt-free company and as of September 2024, cash and cash equivalent for the company was at Rs 10,135 crore, said Kapur. "During H1, approximately Rs 14,700 crore has been utilised, out of which Rs 12,350 crore has been spent on organic and inorganic ..

Updated On: 28 Oct 2024 | 9:53 PM IST