India Cements and Tvasta to promote sustainability

UltraTech Cement Expands, Acquires Grinding Unit from India Cements

UltraTech Cement, a leading player in the Indian cement industry, has announced its expansion plans with the acquisition of a grinding unit from India Cements. This strategic move underscores UltraTech's commitment to growth and market consolidation in the cement sector.

The acquisition of the grinding unit from India Cements will enhance UltraTech Cement's production capacity and strengthen its presence in key markets. It reflects the company's strategic focus on expanding its operational footprint and leveraging synergies to drive efficiency and competitiveness.

The newly acqui..

India Cements Eyes Up to Rs 7.50 Bn via Bonds

India Cements Limited is considering raising up to Rs 7.50 billion through the issuance of bonds. This strategic move reflects the company's efforts to enhance its financial flexibility and strengthen its capital base amidst evolving market conditions.

The potential bond issuance underscores India Cements' proactive approach to capital raising, aiming to support its business expansion plans and fund capital expenditure projects. By tapping into the bond market, the company seeks to diversify its funding sources and optimise its capital structure.

The funds raised through the prop..

The India Cements reports Q3 loss of Rs 65.8 mn

The India Cements reported a consolidated net loss of Rs 65.8 million for the third quarter ending December 2023, contrasting with a net profit of Rs 1112.2 million in the corresponding period of the previous year, as disclosed in a regulatory filing. The company's revenue from operations during this period stood at Rs 11.4446 billion, down from Rs 12.81 billion in the same quarter last year. Total expenses amounted to Rs 12.14 billion.

The company noted that its capacity utilisation was subdued at 51% for the third quarter, compared to 56% in the previous year's quarter and 61% in the..

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..