Ultratech

India Cements under UltraTech Cement may drop V-P Mahendra Singh Dhoni

Firm may gradually phase out CSK Cement, known as Dhoni Cement

Ultratech, Ambuja Cements eye more cement sector assets for expansion

Ultratech found Orient Cement deal as expensive

UltraTech Cement up 2% as co eyes 7-8% growth in future; brokerages vary

UltraTech Cement's consolidated profit dropped 36 per cent year-on-year (Y-o-Y) to Rs 825 crore in the September quarter of FY25, from Rs 1,280 crore in the September quarter of FY24.

UltraTech shares muted ahead of Q2 results; Revenue to fall, say analysts

Analysts tracking the cement sector say that subdued economic activity in the first quarter is likely to weigh on sector leader UltraTech Cement's numbers, which reports its Q2 results today

Ultratech Cement stock better placed amid recovery hopes in demand

Cement players hiked prices in Sept'24, but had to roll back prices in the South. In the first week of Oct'24, price hikes have again been announced and it remains to be seen if these are sustained

UltraTech Cement raises $500 million via sustainability-linked financing

Sustainability-linked finance is a method through which borrowers meet environmental, social and governance targets while raising funds

UltraTech to cross 200 mn tonne per annum capacity by FY27: K M Birla

Leading cement maker UltraTech is expected to cross 200 million tonne per annum capacity by FY27 helped by recent acquisitions and expansion projects, Chairman Kumar Mangalam Birla said on Wednesday. The Aditya Birla Group flagship firm has embarked on a capacity expansion drive "on a scale that is globally unprecedented" in the cement sector, he said while addressing the shareholders in the annual general meeting of the company. UltraTech last month announced acquisition of Tamil Nadu-based India Cements Ltd (ICL). Its Rs 3,142 crore open offer for acquiring 26 per cent stake will tentatively open on September 19. It has already announced the acquisition of a 32.72 per cent stake in ICL from promoters and their associates for Rs 3,954 crore. Besides, UltraTech is acquiring Kesoram Cement Business from Kesoram Industries, for which it received approval from fair trade regulator CCI in March. UltraTech is also increasing the capacity of its existing units as it faces competition fr

UltraTech Cement's open offer for ICL to open on Sept 19, close on Oct 3

UltraTech Cement's Rs 3,142 crore open offer for acquiring 26 per cent stake in India Cements Ltd (ICL) will tentatively open on September 19 and close on October 3. The Aditya Birla group flagship company has proposed to acquire 8.05 crore shares of ICL at Rs 390 apiece, said the draft of the offer submitted to bourses. The offer price is 6.3 per cent higher than the closing price of Rs 366.90 of ICL at BSE. The mandatory open offer was triggered after UltraTech on July 28 announced to acquire 32.72 per cent stake in ICL from promoters and their associates for Rs 3,954 crore. If subscribed fully, then based of the Rs 390 price, the open offer will come in at Rs 3,142.35 crore. Before this, UltraTech had acquired a non-controlling stake of around 23 per cent in ICL through two block deals, at around Rs 1,900 crore. The shareholding of UltraTech after the acquisition of 32.72 per cent stake in ICL from promoters and their associates, will be 55.49 per cent. UltraTech in the draft

Rise in construction activities to propel cement demand by 7-8%: UltraTech

Demand for cement is projected to grow 7-8 per cent in the current financial year, helped by an increase in construction activities throughout the country, UltraTech Cement said in its latest annual report. To meet this increased demand, the cement industry is expected to add 35 - 40 million tonne capacity in the next fiscal, with 60-65 per cent concentrated in the eastern and southern regions, said the Aditya Birla group flagship firm. Besides, this demand surge will translate into an increase in capacity utilisation of the industry to 72 per cent in FY25, which was around 68 per cent in FY23. "In FY 2024-25, cement demand is projected to grow 7-8 per cent driven by an increase in construction activities throughout the country, spread across the infrastructure and housing sector," said UltraTech. There has been a "concerted focus" on the integrated and coordinated planning and implementation of infrastructure projects, adhering to the principles of PM Gati Shakti. Priority has be

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

UltraTech to acquire 32.7% stake in India Cements to up South play

Open offer may raise total cost to Rs 7,100 cr

Dip in sales realisation mutes UltraTech net profit at Rs 1,696 crore

Profit before interest, depreciation and tax, the company said, was at Rs 3,205 crore compared to Rs 3223 crore a year ago

Investment holding companies rally after Sebi delisting framework

The Securities and Exchange Board of India (Sebi) on Thursday announced that with the entire public shareholding being extinguished, the holdcos will be delisted

UltraTech Cement buys grinding unit from India Cements, announces expansion

Aditya Birla group company UltraTech Cement has announced the acquisition of a grinding unit from India Cements for Rs 315 crore and said it will invest an additional Rs 504 crore to expand capacity of two units. In a stock exchange filing, UltraTech said its board has approved acquisition "of a grinding unit having installed capacity of 1.1 million tonnes per annum in addition to a captive railway siding at Parli, Maharashtra from The India Cements Limited... for a consideration of Rs 315 crores". The company said it has entered into an Asset Purchase Agreement with the seller. "This purchase will help the Company to strengthen its presence in the rapidly growing Maharashtra markets." Making a similar regulatory filing, The India Cements said out of the total consideration of Rs 315 crore (exclusive of taxes and levies), "Rs 307 crore will be received by the company shortly and the balance Rs 8 crore within nine months from the date of the agreement." The unit being sold had a ...

UltraTech to acquire India Cements' 1.1 mtpa grinding unit for Rs 315 cr

Strengthening its market in Maharashtra, UltraTech Cement will secure a grinding unit with a capacity of 1.1 million tonnes per annum, including a captive railway siding, from India Cements

UltraTech to buy 26% stake in O2 Renewable for green energy needs

UltraTech Cement on Wednesday said it will acquire 26 per cent equity of O2 Renewable Energy, a company engaged in the generation and transmission of renewable energy. This will help the Aditya Birla Group firm meet green energy needs, optimise energy costs and comply with regulatory requirements for captive power consumption under electricity laws. The cement maker company has entered into an energy supply agreement and share subscription and shareholders agreement with O2 Renewable Energy. "The acquisition is for the purposes of meeting the company's green energy needs, optimising energy cost and complying with regulatory requirements related to captive power consumption under electricity laws," UltraTech said in a regulatory filing. On the equity investment, the company said it would be a cash consideration of up to Rs 15.68 crore and expects to complete it within 180 days from the signing of the agreement.

UltraTech Cement receives CCI's approval to acquire Kesoram Cement

Fair trade regulator CCI on Tuesday granted approval to UltraTech Cement's proposed acquisition of Kesoram Cement Business from Kesoram Industries. Kesoram Industries is engaged in the manufacture of grey cement through the Kesoram Cement Business. The proposed combination relates to the acquisition of the grey cement business of Kesoram Industries Limited by UltraTech Cement Ltd pursuant to a composite scheme of arrangement dated November 30, 2023, according to a release. The Competition Commission of India (CCI) said it has cleared the deal. UltraTech is a public-listed company in and is engaged in the business of the manufacture and sale of grey cement, white cement, ready-mix concrete, clinker, and building products in India. The company is also engaged in the provision of building solutions in India. It is a subsidiary of Grasim Industries Ltd. In November last year, UltraTech Cement announced it was set to acquire the cement business of BK Birla Group's flagship company Kes

UltraTech Cement to acquire 26% in Amplus Ages by investing Rs 49 crore

Leading cement maker UltraTech Cement on Thursday announced the acquisition of 26 per cent stake in Amplus Ages by investing Rs 49 crore. Amplus Ages is engaged in the generation and transmission of renewable energy. UltraTech Cement has entered into a share subscription and shareholders' agreement to acquire 26 per cent equity shares of Amplus Ages Pvt Ltd, the Aditya Birla Group firm said in a regulatory filing. "The acquisition is for the purposes of meeting the company's green energy needs, optimising energy cost and comply with regulatory requirements for captive power consumption under electricity laws," it said. The acquisition is expected to be completed within 180 days from the execution of the electricity offtake agreement and share subscription and shareholders agreement, it added.

UltraTech Cement Q3 sales up 6% to 27.3 MT, overseas production up 20%

Leading cement maker UltraTech's consolidated sales rose by 6 per cent to 27.32 million tonnes (MT) year-on-year in the third quarter ended December 31, 2023. The total sales volume in the domestic market was up 5 per cent to 26.06 MT during the quarter under review, the Aditya Birla Group firm said in a regulatory filing. The company's grey cement production in the domestic market was at 25.44 MT in the October-December quarter FY24, reporting 5 per cent growth, while its white cement production was 0.48 MT, up 14 per cent. UltraTech's overseas production, mainly grey cement, was 1.38 MT in Q3/FY24, up 20 per cent, the statement added. The Aditya Birla Group firm has a consolidated capacity of 138.39 million tonnes per annum (MTPA) of grey cement. It has 23 integrated manufacturing units, 29 grinding units, one clinkerisation unit and eight Bulk Packaging Terminals. UltraTech is the third largest cement producer in the world, excluding the China market.

Stocks to Watch: IRCTC, Fusion, Ultratech, Uno Minda, NBCC, SBI, RBL Bank

Stocks to Watch on December 14, 2023: IRCTC is eyeing a major expansion in the non-railway catering business