Orient Cement

Cement shares in action: Heidelberg, UltraTech, Shree, Nuvoco zoom up to 4%

The renewed investor interest in the cement shares came on the back of reports that cement dealers have initiated price hikes since the start of December

Ambuja Cements seeks CCI approval to buy majority stake in Orient Cement

Billionaire Gautam Adani-led Ambuja Cements has sought approval from the Competition Commission of India (CCI) to acquire a majority stake in CK Birla group firm Orient Cement Ltd in a Rs 8,100-crore deal. According to a CCI notice, the proposed transaction is a two-stage acquisition process, initiated through two share purchase agreements (SPAs) on October 22, 2024, will see Ambuja Cements initially acquiring a 46.80 per cent stake in Orient Cement. This includes a 37.90 per cent stake from the current promoter group and an additional 8.90 per cent from certain public shareholders. Pursuant to the acquisition of shares, it "triggers an obligation on the acquirer to make an open offer under Sebi's SAST (Substantial Acquisition of Shares and Takeovers) rules for acquisition of up to 26 per cent of the expanded share capital of the target (open offer)", according to the notice. Assuming full acceptance of open offer, the stake of Ambuja Cements will stand at 72.8 per cent, said a not

Orient Cement Q2 results: PAT slides 90.5% to 2.32 cr, sales down 24.5%

CK Birla group firm Orient Cement Ltd on Friday reported a 90.5 per cent decline in net profit to Rs 2.32 crore for the second quarter ended September 2024. The company reported a net profit of Rs 24.62 crore for the July-September quarter a year ago. Its revenue from operations was down 24.5 per cent at Rs 544.02 crore during the quarter under review against Rs 720.57 crore in the corresponding period a year ago. Total expenses of OCL were at Rs 544.47 crore in the September quarter, down 20 per cent. Last month Billionaire Gautam Adani-owned Adani Cement announced signing a binding agreement for the acquisition of OCL at a valuation of Rs 8,100 crore. Its step-down unit Ambuja Cements will acquire 46.8 per cent shares of OCL from its current promoters and certain public shareholders. It has also announced an open offer to acquire 26 per cent from the market at a price band of Rs 395.40, which opens on December 16, 2024. Shares of Orient Cement Ltd on Friday settled at Rs 336.90

Adani group's Dubai-based firm to buy ITD Cementation for Rs 3,204 cr

With this transaction at Rs 400 a share, the present promoter Italian-Thai Development Public Company will cease to be a promoter of the company and Adani group's Dubai-based firm

Domestic M&A average deal value nearly halves at $29 million in 2024

Adani deal is 15x the average deal value for the year

Adani's Ambuja to acquire 46.8% stake in Orient Cement for Rs 8,100 cr

Adani pips Ultratech, makes open offer for CK Birla firm at Rs 395.40 a share

Ambuja Cements climbs 2% after planning to buy 46.8% stake in Orient Cement

Ambuja Cements will acquire a 46.8 per cent stake in Orient Cement. The transaction will happen at an equity value of Rs 8,100 crore, or Rs 395.4 per share

Cement shares in focus as Ambuja to buy Orient; trading strategy here

Barring HeidelbergCement most of the cement stocks look technically weak on the charts; Ambuja Cements is on the verge of seeing a 'Death Cross' formation on the daily chart.

JSW Cement enters race to acquire promoter stake in Orient Cement

Aditya Birla and Adani groups have been aggressively acquiring cement firms to expand their manufacturing units, JSW has not also entered the race

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.

Orient Cement hits 52-week high on heavy volumes; zooms 25% in 3 days

The upward movement in the stock price of the CK Birla Group company has been seen after Ambuja Cement successfully acquired Sanghi Industries in a deal valued at Rs 5,000 crore

Orient Cement's net profit declines to Rs 37.03 crore in June quarter

C K Birla group firm Orient Cement Ltd on Tuesday reported a marginal decline in its net profit at Rs 37.03 crore in the June quarter. It had posted a net profit of Rs 37.41 crore in the April-June quarter a year ago, Orient Cement said in a regulatory filing. Its revenue from operation was up 15.58 per cent at Rs 825.17 crore during the quarter under review as against Rs 713.93 crore in the year-ago period. Orient Cement's total expenses were at Rs 772.39 crore in Q1 of FY2023-24, up 17.73 per cent. In the June quarter, the company's total income was up 16 per cent at Rs 829.60 crore. Shares of Orient Cement Ltd on Tuesday settled 2.18 per cent lower at Rs 143.85 apiece on the BSE.

Orient Cement terminates MoU with Adani Power to set up unit in Maharashtra

Orient Cement entered into a MoU on September 24, 2021 with Adani Power Maharashtra Ltd (APML)

Sensex sinks 637pts, gives up 61K, Nifty near 18K; Realty, Metals top drags

CLOSING BELL: TCS, Maruti, Divis's Labs, HDFC Life and Dr Reddy's were among the handful of stocks that held minor gains

Orient Cement up 21% in 2 days; firm clarifies on Adani stake purchase buzz

The BSE had sought clarification from Orient Cement on January 3, 2023, regarding reports stating that Adani Group was in talks to buy promoter stake In the company

Orient Cement's net profit declines 18.9% to Rs 43.7 cr in Dec quarter

However, its revenue from operation during October-December 2021 rose 2.13 per cent to Rs 617.52 crore, compared with Rs 604.61 crore in the year-ago period

Sensex gains 383pts, broader indices outperform; Tata Steel up 4%, RIL 2.4%

The BSE Midcap index gained 1.8 per cent, while the Smallcap index rallied 2.2 per cent. All sectoral indices also ended with gains, Realty, Metal and Consumer Durables were the major gainers

Orient Cement hits over 3-year high on strong operational performance in Q1

In Q1FY22, Ebitda margins improved by 250 basis points to 27.25 per cent in June 2021 quarter, sequentially.

Orient Cement surges 10%, hits 52-week high on strong Q4 results

The company's stellar performance is backed by a 17.1 per cent YoY jump in sales volumes (1.85 MT) along with strong realisations (up 8.5 per cent YoY) in the company's key operating regions

Stocks to watch: Tata Motors, Airtel, Gland Pharma, HCL Tech, Orient Cement

Reliance Jio said it is constructing the largest international submarine cable system centred on India with global partners and submarine cable supplier Subcom to cater to increased data demand