Adani Group's Holcim acquisition doubles India Inc's deal

Holcim Reports 7.8% Increase in Q1 Operating Profit

Holcim, one of the world's leading suppliers of cement and aggregates, has reported a 7.8% increase in its operating profit for the first quarter of 2024. The company's robust performance comes amidst a challenging global economic landscape, demonstrating its resilience and adaptability.

The rise in operating profit reflects Holcim's strategic initiatives aimed at enhancing operational efficiency, driving innovation, and capturing growth opportunities across its key markets. Despite facing headwinds such as supply chain disruptions and inflationary pressures, Holcim's proactive approac..

Holcim's $ 1.1 bn buyback following exceeding expectations

Holcim announced that it would initiate a share buyback of 1 billion Swiss francs ($1.14 billion) by the end of the year. This decision followed the building materials giant's fourth-quarter earnings report, which exceeded forecasts.

The Swiss cement maker, which had previously disclosed its intention to spin off its rapidly expanding American business, expressed confidence after achieving a record annual operating profit. This success was attributed to efficiency improvements and price hikes.

For the fourth quarter, Holcim reported a recurring operating profit of 1.12 billion ..

Holcim to Split U.S. Business, Pursues Strategic Restructuring

Switzerland-based Holcim, a major player in the global building materials industry, has revealed its intention to undertake a significant strategic move by separating its U.S. business. The decision, aimed at restructuring the company's operations, is anticipated to bring about transformative changes within the organisation.

Holcim's move to split its U.S. business aligns with broader industry trends and the company's strategic vision for enhanced efficiency and focused growth. This restructuring initiative is expected to enable a more streamlined and targeted approach to business oper..

Shree Cement incurs Rs 6.62 billion profit for Q4; beats expectations

Shree Cement, India's third-largest cement manufacturer by market capitalisation announced a fourth-quarter profit that exceeded, attributing it to increased volumes driven by lower cement prices. Typically, cement companies witness a surge in volumes in the March quarter as they reduce prices to clear year-end inventory backlogs.

Analysts had anticipated that reduced fuel costs would partially offset the decline in prices. Shree Cement's profit for the quarter ending March 31 reached Rs 6.62 billion, surpassing street forecasts of Rs 6.20 billion, as per LSEG data. This marked a si..

Jaishankar Highlights Mumbai-Ahmedabad Bullet Train Benefits

india's vision of a modern and interconnected transportation network. Foreign Minister S Jaishankar has emphasised the significant benefits of the Mumbai-Ahmedabad bullet train project, citing its potential to revolutionise transportation and boost economic growth. Speaking on the project, Jaishankar highlighted its role in enhancing connectivity, fostering economic development, and strengthening bilateral ties with Japan.

The Mumbai-Ahmedabad bullet train project, a flagship infrastructure initiative between India and Japan, aims to reduce travel time between the two cities from hour..