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Nod for Ultratech’s acquisition of Kesoram unit
The Competition Commission of India (CCI) approved UltraTech’s acquisition of the cement business of Kesoram Industries. Kesoram also has businesses in rayon, transparent paper and chemicals, which are not part of this transaction. UltraTech said it would acquire Kesoram's cement business in an all-stock deal valued at `53.79 billion to bolster its hold in southern India. Kesoram currently operates two integrated cement units in Sedam (Karnataka) and Basantnagar (Telangana) with a total installed capacity of 10.75 million metric tonnes per annum (MTPA), along with a 0.66 MTPA packin..
PM inaugurates Gati Shakti cargo terminal project of Ramco Cements
Prime Minister Narendra Modi virtually inaugurated the Gati Shakti Cargo Terminal project of Ramco Cements at Jayanthipuram village, Jaggaiahpet Mandal, NTR District, Andhra Pradesh. With the inauguration of the project, the company will be transporting crushed limestone from its mines in Budawada to its integrated cement plant in Jayanthipuram.
This project is the first of its kind in the country wherein a cement company will be transporting crushed limestone from its mines to the cement plant’s wagon unloading area through railway wagons using electric locomotives in an environmen..
Ramco Cements' flood relief measures in Thoothukudi district
Thoothukudi in South Tamil Nadu remains the worst-affected district by the floods caused by the unprecedented rains. Ramco Cements has stepped in to provide relief to the affected people. 2000 food packets were distributed to the people of Thoothukudi's Brian Nagar and Shanmugapuram. Rs 5 lakhs worth of relief material for over 500 families affected by the floods in Pudur Taluk and surrounding Panchayats was handed over to Vilathikulam MLA GV Markandeyan. The MLA thanked Ramco Cements for extending t..
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..
