Net sales up 7%; royalty agreement with Holcim terminated on Sept 16; paid Rs 264 cr as royalty and technical fees in CY21
According to ACC, its EBITDA in the quarter 'stood at Rs 16 crore largely due to steep rise in fuel cost' as against Rs 712 crore earlier
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Companies including Mahindra & Mahindra, Aditya Birla Group, JSW Group, Adani Transmission, Vedanta, and Dalmia Cement have set decarbonisation goals to achieve carbon neutrality by 2050
Cost pressures a concern, though, as crude, currency volatility remain
Lenders said they are still awaiting the resolution of a debt worth Rs 21,658 crore with Jaypee Infratech -- the real estate arm of the group
Adani aims to become India's top cement company by 2030; rival Ultratech stepping up capacity
The acquisition will be made by one of the cement units recently acquired by Asia's richest person, the people said, adding an announcement was expected as early as this week
Both companies will become country's most profitable cement firms as margins will go up due to rising demand: Gautam Adani
Adani, Ultratech, Dalmia Bharat, Shree Cement to buy smaller companies, say analysts
The RBI's Monetary Policy Committee (MPC) is likely to lift the policy repo rate by 35-50 basis points (bps) on September 30, according to a Business Standard poll
The Adani group to infuse Rs 20,000 crore more in Ambuja Cements
The board of directors of Ambuja Cements is scheduled to meet on September 16, 2022 to consider and evaluate proposal for raising of funds
Most analysts have a 'sell' or 'reduce' recommendation on the sector
Cement production is a lucrative business in India's booming economy, with high demand especially from rural housing and infrastructure firms
Birla said the new round of expansion by UltraTech will take its capacity to 159.25 mtpa, reinforcing its position as the third-largest cement company in the world, outside of China
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The eight sectors - coal, steel, cement, fertilisers, electricity, natural gas, refinery products, and crude oil - comprise two-fifths of India's total industrial production
Coal prices also increased from $60 per tonne to $300 per tonne during the last one year adding to the pressure on the company