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Cement

Acquisition of Binani Cement will give us an exposure to the entire north Indian market, including Gujarat, and will help Dalmia Bharat emerge as a pan-India cement manufacturer. Currently, our consolidated capacity stands at 27 million tonnes (mt). Acquisition of Murli Cement increased it by 3 mt and Kalyanpur Cement by another 1 mt. Now […]

In the latest development in the battle to acquire Binani Cement, promoters Binani Industrieshas approached Ultratech Cement to sell equity shareholding in the company through a shares sale and purchase agreement in return of funds to pay off the debtors to company, Ultratech said in a filing with the BSE. Accordingly, Ultratech has in-principle agreed […]

France-based cement manufacturing major Vicat Group entered into Memorandum of Understanding (MoU) with Andhra Pradesh Economic Development Board (APEDB), the nodal agency for attracting investments into State, to set up a green field cement grinding unit in Vizianagaram area of the state entailing an investment of Rs.510 crore. Agreement was inked at the Indo-French Economic […]

After the Dalmia Bharat group won Binani Cement in a closely fought and multi-cornered battle for the debt-laden buildings material company, the Indian market leader Ultratech Tuesday approached the bankruptcy court to seek a more transparent way of evaluating the bids “that maximise value for all stakeholders.” Aditya Birla Group-led cement company, which was almost […]

Ambuja Cements and ACC tumbled up to 4% on Tuesday after the cement makers called off their long-due merger for now citing “current constraints”. Transfer of mines between the two was proving to be uneconomical, said market watchers. However, Ambuja Cements told exchanges that merger remains the “ultimate goal”. Stock of Ambuja Cements weakened 3.66 […]

Ambuja Cement, part of Swiss cement company LafargeHolcim, has planned to infuse Rs.1,391 crore to set up a greenfield clinkerisation plant in Rajasthan. Proposal to set up 3.1 million tonne plant has been approved by the board of directors. An initial investment of Rs.1,391 crore will be made towards the Phase-I with a capacity of […]

UltraTech Cement has got the go- ahead for its limestone mining project in Bhavnagar district, Gujarat that would entail an investment of about Rs. 60 crore, as per official documents. Proposal is to mine limestone in a lease area of 632 hectare with production capacity of 2.07 million tonne per annum (TPA). Total mineral reserves […]

The boards of Dalmia Bharat Limited and OCL India Ltd (OCL) have decided to merge the two entities, a move that will create the fourth largest cement maker in the country with an installed capacity of 25 million tonnes per annum and annual revenues of about Rs 10,000 crore. Dalmia Bharat, the flagship company of […]

An uptick in demand in north India followed by strong pricing discipline resulted in a rebound in cement prices to Rs 305-345 per cent bag in the first half of 2016-17 from Rs 225-240 a bag in January 2016. During April-September 2016-17, cement prices in the North were higher by around Rs 60-65 per bag, […]

M P Birla Group’s flagship company, Birla Corporation on Monday said it has completed the acquisition of the cement business of Anil Ambani-owned Reliance Infrastructure Ltd (RIL) in a stake sell agreement it concluded with RIL in February, this year. In a regulatory filing with the Bombay Stock Exchange, Birla Corporation (Birla Corp) said that […]