Cement
NCLT rejects JAL's claim of liquidity crunch due to delay in govt approvals, litigations
JAL has submitted that it is an "asset rich company", even after sale of cement plants to resolve the loans under Bucket 1 and Bucket 2A, assets like Real Estate Business - Noida and Greater Noida (about 11,000 flats) will remain with the company. Besides, it had other assets such as two 5 Five Star Hotels/Resort in Delhi, and one in Agra, two Golf Courses in Noida and Greater Noida, a Formula One Sports Complex and Cricket Stadium with Real Estate.
Bankruptcy court admits ICICI Bank's insolvency resolution plea against Jaiprakash Associates
Admission affects deal with Dalmia Bharat Group for Rs 5,666 crore. Case represented at NCLT.
Cement industry in India consolidating, market shares of top companies growing: ICRA
Large cement companies are expanding capacity through organic growth and acquisitions, driven by strong demand. Market share of the top five firms rose to 54% in 2023 and is expected to reach 55% by 2025. Consolidation, especially in eastern and western regions, enhances cost efficiency. ICRA's outlook for the sector remains stable.
UltraTech Cement offers to acquire 31.6 per cent in UAE-based RAKWCT
On April 15, UltraTech had informed that UCMEIL will invest in 29.39 per cent equity share capital of 'Ras al Khaimah Co. for White Cement and Construction Materials PSC' (RAKWCT), a company listed on the Abu Dhabi stock exchange.
BCCI signs IPL sponsorship deal with Wonder Cement worth Rs 250 crore
BCCI signs Wonder Cement as IPL's official umpire partner, replacing Paytm. Wonder Cement's Rs 250 crore deal spans IPL 2024-2028. It joins Tata Sons, My11Circle, AngelOne, RuPay, and Ceat in IPL sponsorship. The deal enhances Wonder Cement's nationwide brand exposure. The RK Group's cement business records strong financials and significant North Indian presence.
JSW Cement plans ₹3,000-cr manufacturing plant in Rajasthan
The new plant will help the company, a part of the infrastructure and metals conglomerate JSW Group, reach the markets in Rajasthan, Haryana, Punjab and the NCR, a region that generally offers higher realisation on sales than areas such as south-central India, which have easy access to limestone mines.
Govt rolls out mandatory quality norms for asbestos cement products
To safeguard the domestic small/micro industries and ensure smooth implementation of the QCO and ease of doing business, relaxations have been granted to small/micro industries as regards to timeliness. An additional nine months have been given to small industries and an additional 12 months to micro industries to meet the norms.
JSW Cement to invest Rs 3,000 crore to set up new cement manufacturing unit in Rajasthan
JSW Cement, a part of the $24.25-billion JSW Group, plans to invest Rs 3,000 crore in a new cement manufacturing facility in Rajasthan's Nagaur district. It will be funded by a mix of debt and equity. The facility will have clinkerization, grinding units, an 18 MW waste heat recovery-based power generation system. It is expected to create over 1,000 job opportunities.
JSW Cement to invest Rs 3,000 cr to set up manufacturing facility in Nagaur, Rajasthan
JSW Cement plans to invest around Rs 3,000 crore to establish a cement manufacturing facility in the Nagaur district of Rajasthan. The greenfield facility will include a clinkerization unit and a grinding unit, with an 18 MW waste heat recovery-based power generation system. The investment is expected to create over 1,000 job opportunities and includes a 7-km overland belt conveyor for transporting limestone from mines to the plant.
Dalmia Bharat begins production at new unit in Tamil Nadu plant
Dalmia Bharat Ltd has started commercial production at its new mill in Ariyalur, Tamil Nadu, expanding its total cement manufacturing capacity to 45.6 MTPA. The strategic brownfield expansion aligns with the goal of reaching 110-130 MT by 2031, focusing on maximising growth prospects and enhancing market position in the South.
Must Watch
UltraTech will surpass industry growth in FY25 despite demand moderation, says CFO
The country’s largest cement producer saw sales volume grow in double digits for the third year in a row, recording a 13% increase in FY24. UltraTech’s capacity utilisation was at 98% in the March quarter, but Daga said the company has sufficient capacity to keep growing. Capacity utilisation for the full year was at 85%, significantly higher than the industry average of around 71%.
As Adani tries to build a challenge, Birla cements leadership with UltraTech
In the highly competitive cement industry in India, the Adani Group faces challenges in catching up to the leader, UltraTech Cement, owned by the Aditya Birla Group. UltraTech recently crossed 150 million tonnes in production capacity and plans to further increase it to 200 million tonnes. Adani has made strategic acquisitions but will need more to gain market share. The overall cement industry in India is expected to add significant capacity in the coming years, driven by infrastructure and housing demand.
UltraTech to invest over ₹800 crore to ramp up presence in Maha
UltraTech Cement invests ₹800 crore in Maharashtra, acquiring India Cements' Parli unit. Board approves expansions at Parli and Dhule. Total capacity to reach 3.6 million tonnes, fully funded internally.
Adani group increase its stake in Ambuja Cements to 70.3% by converting warrants
The Adani Group has increased its stake in Ambuja Cements by 3.6%, bringing it to 70.3%, through the conversion of warrants into equity. The Adani family, promoters, fully subscribed to the warrants program by injecting Rs 8,339 crore out of the total Rs 20,000 crore. The additional investment will fortify the company's financial position, providing it with enhanced capabilities to pursue its ambitious growth plans and capitalize on emerging market opportunities.
Adani family infuses Rs 8,339 cr more in Ambuja Cements, raises stake to 70.3%
The Adani family has fully subscribed to Ambuja Cements' warrants program, infusing an additional Rs 8,339 crore to raise their stake by 3.6%. The total amount infused now stands at Rs 20,000 crore, with their total stake in the cement company at 70.3%. The investment aims to achieve a capacity of 140 million tonnes per annum by 2028 and enable strategic initiatives such as debottlenecking capex and enhancing operational performance.
Adani's Ambuja Cements to buy My Home Group's grinding unit in TN for Rs 413.75 crore
Ambuja Cements, part of the Adani Group, is set to acquire My Home Group's Tuticorin cement grinding unit in Tamil Nadu for Rs 413.75 crore. The deal enhances their coastal presence in southern markets, adding 1.5 MTPA capacity and leveraging existing infrastructure and employee base for a smooth transition.
