India Cements shares surge 9% as Damani increases stake to 22.76%

27 Dec 2021 CW Team

Shares of India Cements soared 9% in early trade as market confidence in the stock boosted after veteran investor Radhakishan S Damani and a few others picked up a 2.03% stake in the firm through an open market deal, expanding shareholding to 22.76% from 20.73%.

The scrip rose to a high of Rs 191.80 compared to Rs 176.65 at the prior close on the National Stock Exchange. RK Damani has been marginally raising his stake in the cement major since 2020, as per the reports. He held 19.89% shares in the firm in the March quarter of 2020, followed by a marginal rise to 20.4% in July last year.

In January 2021, Damani had increased his stake to 21.14% and kept the same for the next 11 months. As per the reports, Damani, the founder of retail major D-Mart, was apparently planning to obtain a controlling stake in India Cements in 2020. Yet, N Srinivasan, India Cements Managing Director, later dismissed the reports. India Cements registered a drop in its net profit in July-September.

The profit after tax clocked in at Rs 30 crore, recording a drop of 57% as against the similar period of last year. The firm's revenue from operations, however, surged by 13% to Rs 1,235 crore.

For the quarter under review, the firm's production was enhanced by 8%. In April-September, production increased 21% to 4.12 million tonnes. India Cements’ extended marketing zones during this period helped improve dispatches with an overall sale of 2.36 million tonnes for the quarter, compared to 2.11 million tonnes during the previous year, which increased by 12%.

Image Source

Infrastructure Energy

14 Oct 2025

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..