ACC led by Kuldip Kaura, Managing Director and CEO, is on a bull run. The company posted a 26.3 per cent rise in its consolidated net profit at Rs 414.5 crore, against Rs 328.1 crore in the previous corresponding quarter.
ashtriya Ispat Nigam (RINL) is setting up a 3 million tonne cement grinding unit, making use of 0.6 million tonne of flyash, a million tonne of slag from the blast furnaces and the rest being cement clinker. A JV will be formed for setting up the plant with the RINL having 26 per cent equity in it.
Cement Corporation of India (CCI) has proposed to set up a new cement grinding unit in Assam with an installed capacity of about 82,500 tonne per annum on a single shift basis at a cost of Rs 39.68 crore.
BK Birla Group' diversified outfit, Kesoram Industries has committed combined investment worth Rs 485 crore for completing a new cement grinding unit and a delayed passenger car tyre project. About Rs 235 crore would be for its 'semi-completed' tyre project at its existing Balasore (Odisha) plant. The company has existing facilities for commercial tyres sold under ‘Birla Tyres’ brandname. The projects will be part-financed through the recent rights issue proceeds of Rs 416 crore.
Two cement grinding units by Zuari Cement will be set up in Solapur area of Maharashtra. Zuari Cement is an Italcementi group company. The two units will come up at at Auj (Aherwadi) and Shingadgaon villages. Each unit will have a production capacity of one million tonne a year and is expected to be operational by the second quarter of 2015.