16.09.2022Holcim closes India divestment
Holcim has closed the sale of its business in India to the Adani Group, comprising its full stakes in Ambuja Cement at a share price of INR 385 and in ACC at a share price of INR 2,300, resulting in cash proceeds of USD 6.4 billion for Holcim. This transaction strengthens Holcim’s balance sheet and enables the company to continue its acquisition strategy, building on recent investments of over CHF 5 billion in Solutions & Products.
MP Birla Group firm Birla Corporation plans to increase its cement production capacity by 50 per cent to 30 million tonnes per annum by 2030, the company said in its latest annual report
The proposed combination involves acquisition of 100 per cent stake in Holderind Investments Ltd by Endeavour Trade and Investment Ltd.
15.08.2022India Cements Q1 net profit up 103%
The India Cements Limited has posted a net profit of 76 crore for the quarter ended June 30, 2022, an increase of 103% over that of the corresponding quarter last financial year at 37.4 crore. The leading cement manufacturer is likely to effect a revision of cement prices by next week due to rise in the cost of various commodities.
Aditya Birla group firm UltraTech Cement reported a decline of 6.94 per cent in its consolidated net profit at Rs 1,582.02 crore in the June 2022 quarter, impacted by inflationary trends.
This partnership will allow DBRL to provide the latest technology products to its steel customers in India and other parts of the world
UltraTech is bringing in 157,000 tonnes of coal from Russian producer SUEK that loaded on the bulk carrier MV Mangas from the Russian Far East port of Vanino, the document showed. It cites an invoice dated June 5 that values the cargo at 172,652,900 yuan ($25.81 million).