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Page 2 - Cement Sector

Ambuja Cements poised for highest volume growth: Nomura upgrades to 'Buy'

Japanese brokerage firm Nomura has upgraded India's second biggest cement company Ambuja Cements to Buy with a target price of Rs 780, an upside of 17 per cent

Ambuja Cements poised for highest volume growth: Nomura upgrades to 'Buy'
Updated On : 11 Jul 2024 | 9:04 AM IST

Kesoram's cement business demerger may be completed by December 2024

The cement business accounted for the bulk of Kesoram's revenue from operations. According to the FY24 annual report, revenue from cement was Rs 3,736.10 crore

Kesoram's cement business demerger may be completed by December 2024
Updated On : 09 Jul 2024 | 9:51 PM IST

Cement sector sees muted growth of 2-3% in Q1FY25 due to LS polls: ICRA

The cement sector has witnessed a muted growth of 2-3 per cent in the first quarter of current fiscal on account of a slowdown in construction activity because of the Lok Sabha polls, according to a report from rating agency Icra. However, the overall volumes for the FY2024-25 are likely to expand by 7-8 per cent driven by a healthy demand from the infrastructure and housing sectors. "Nevertheless, the government's focus on infrastructure projects, sanction of additional houses under the Pradhan Mantri Awas Yojana (PMAY), and the industrial capex is expected to meaningfully improve cement volume offtake in H2 FY2025," it said. The report also projects further consolidation in the cement industry by the top players to increase their capacity. The sector has witnessed consolidation by leading players such as Aditya Birla group firm UltraTech Cement and Adani group firm Ambuja Cements. Besides, the sector is also expected to continue its organic growth in the medium term as makers ..

Cement sector sees muted growth of 2-3% in Q1FY25 due to LS polls: ICRA
Updated On : 04 Jul 2024 | 5:39 PM IST

UltraTech picks up 23% in India Cements as sector battle hots up

Aditya Birla Group-owned UltraTech Cement to purchase 70.6 mn shares for non-controlling financial investment

UltraTech picks up 23% in India Cements as sector battle hots up
Updated On : 28 Jun 2024 | 12:42 AM IST

Cement shares in demand; India Cements, Orient, JK Lakshmi rally up to 14%

After Lok Sabha Elections and Assembly elections in some States, the centre and States are expected to retain their focus on development agenda, India Cements had said on sector outlook.

Cement shares in demand; India Cements, Orient, JK Lakshmi rally up to 14%
Updated On : 26 Jun 2024 | 11:16 AM IST

Small-sized cement shares in focus; Sanghi, NCL, Saurashtra rally up to 11%

As per media reports, Adani Group was evaluating multiple cement companies like Penna Cement, Saurashtra Cement, JP Associates' cement business & Vadraj Cement for acquisition.

Small-sized cement shares in focus; Sanghi, NCL, Saurashtra rally up to 11%
Updated On : 13 Jun 2024 | 3:02 PM IST

PLI scheme to draw Rs 3-4 trn investments over 4 yrs; boost pvt capex: ICRA

The PLI scheme is expected to attract investments of Rs 3-4 lakh crore in the next four years and generate 2 lakh jobs as large projects in sectors, including semiconductor, solar module and pharmaceutical intermediaries, are expected to take off, a top Icra executive said on Wednesday. Icra Executive Vice President and Chief Ratings Officer K Ravichandran said that going ahead private sector capex is expected to pick up in oil and gas, metals and mining, hospitals, healthcare and cement sectors. However, taking the private sector capex to record high levels would require the government to give some tax breaks so that people have more disposable income in their hands. "Under the PLI scheme, we are expecting Rs 3-4 lakh crore of additional investments in the next 3-4 years. Going ahead, semiconductor, solar module, and pharmaceutical intermediaries are some areas where large projects are expected to happen which can be capital and employment-intensive. They would be generating 2 lakh

PLI scheme to draw Rs 3-4 trn investments over 4 yrs; boost pvt capex: ICRA
Updated On : 12 Jun 2024 | 4:09 PM IST

JK Lakshmi Cement shares rally 7% on healthy Q4; up 15% in last one year

The surge in JK Lakshmi Cement share was fuelled by robust Q4FY24 results, which came in line with street estimates

JK Lakshmi Cement shares rally 7% on healthy Q4; up 15% in last one year
Updated On : 24 May 2024 | 11:12 AM IST

Govt rolls out mandatory quality norms for asbestos cement products

The government has issued mandatory quality norms for asbestos or fibre cement-based products to curb the import of sub-standard goods and boost domestic manufacturing. A notification 'Asbestos or Fibre Cement based Products (Quality Control) Order, 2024 ' was issued in this regard by the Department for Promotion of Industry and Internal Trade (DPIIT) on March 6 this year. Under these orders, items cannot be produced, sold, traded, imported and stocked unless they bear the Bureau of Indian Standards (BIS) mark. "It shall come into force on the expiry of six months from the date of publication of this notification in the Official Gazette," the DPIIT notification said. To safeguard the domestic small/micro industries and ensure smooth implementation of the QCO and ease of doing business, relaxations have been granted to small/micro industries as regards to timeliness. An additional nine months have been given to small industries and an additional 12 months to micro industries to meet

Govt rolls out mandatory quality norms for asbestos cement products
Updated On : 21 May 2024 | 7:52 PM IST

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

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

Result preview: Analysts note 'unusual' quarter for cement sector
Updated On : 11 Apr 2024 | 11:26 PM IST

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

Top 4 cement firms on capacity expansion spree, plan to add 42 mtpa in FY25
Updated On : 04 Apr 2024 | 10:20 PM IST

Raj govt expects to attract investment with e-auction of iron ore blocks

Rajasthan is one of the richest states in terms of availability and variety of minerals in the country, producing over 57 different minerals

Raj govt expects to attract investment with e-auction of iron ore blocks
Updated On : 06 Mar 2024 | 4:00 PM IST

Rain Industries tumbles 11% on Q4 loss

Rain Industries reported a net loss of Rs 1,118.80 crore for the December quarter, while revenue from operations declined over 24% to Rs 4,101 crore.

Rain Industries tumbles 11% on Q4 loss
Updated On : 26 Feb 2024 | 1:28 PM IST

Telangana signs deals worth Rs 12,400 cr with Adani Group at Davos summit

Business conglomerate commits investments in data centre, energy storage, cement plant

Telangana signs deals worth Rs 12,400 cr with Adani Group at Davos summit
Updated On : 17 Jan 2024 | 7:38 PM IST

Adani Group to invest Rs 1,700 crore in cement sector in Uttarakhand

Besides, the Adani group will also invest Rs 1,400 crore to set up a new grinding unit in the state with a capacity of four million tonnes

Adani Group to invest Rs 1,700 crore in cement sector in Uttarakhand
Updated On : 08 Dec 2023 | 8:34 PM IST

India's core sector output grew by 12.1% in October on low base effect

The figures for September were revised upward to 9.2 per cent from 8.1 per cent earlier

India's core sector output grew by 12.1% in October on low base effect
Updated On : 30 Nov 2023 | 11:20 PM IST

Cement sector on solid growth path; lower costs should support margins

India's largest cement maker, UltraTech saw an amazing 15.4 per cent volume expansion Y-o-Y, given the season and its scale

Cement sector on solid growth path; lower costs should support margins
Updated On : 27 Nov 2023 | 9:54 PM IST

Elections, festivities, and pollution weigh on India's cement demand

While the festive season slows down construction activity, some dealers expect the lull to extend for the entire month as multiple states enter election mode

Elections, festivities, and pollution weigh on India's cement demand
Updated On : 16 Nov 2023 | 10:34 PM IST

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 ..

Competition Commission to conduct market study on cement sector in India
Updated On : 03 Nov 2023 | 10:15 PM IST

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

Cement sales to grow 10% in FY24 led by infra, urban housing demand: Report
Updated On : 18 Oct 2023 | 3:58 PM IST