Connect with us

Concrete

Saurashtra Cement soars after board OKs takeover of Snowcem’s paint biz

Published

on

Shares

Saurashtra Cement jumped 7.20 per cent to Rs 61.80 after the company said its board has approved to take over the paint business of Snowcem Paints on slump sale basis and as a going concern. Snowcem Paints is a manufacturer of exterior cement-based masonry paint. The total consideration for the transaction is around Rs 55 crore.

??he closure of transaction is subject to successful negotiation and execution of the definitive agreements including the business transfer agreement and other such agreements customary to the transaction of this nature,??the company said in a BSE filing.

Saurashtra Cement is engaged in the business of manufacturing and selling of cement. The company markets cement under the brand name “HATHI CEMENT”.

The company’s consolidated net profit rose 9.24 per cent to Rs 20.68 crore on a 35.67 per cent jump in net sales to Rs 206.47 crore in Q3 FY21 over Q3 FY20. In the past six months, the stock has added 53 per cent while the benchmark Sensex has added 28.56 per cent during the same period.

Concrete

CCU testbeds in Tamil Nadu

Published

on

By

Shares

Tamil Nadu is set to host one of India’s five national carbon capture and utilisation (CCU) testbeds, aimed at reducing CO2 emissions in the cement industry as part of the country’s 2070 net-zero goal, as per a news report. The facility will be based at UltraTech Cement’s Reddipalayam plant in Ariyalur, supported by IIT Madras and BITS Pilani. Backed by the Department of Science and Technology (DST), the project will pilot an oxygen-enriched kiln capable of capturing up to two tonnes of CO2 per day for conversion into concrete products. Additional testbeds are planned in Rajasthan, Odisha, and Andhra Pradesh, involving companies like JK Cement and Dalmia Cement. Union Minister Jitendra Singh confirmed that funding approvals are underway, with full implementation expected in 2025.

Image source:https://www.heavyequipmentguide.ca/

Continue Reading

Concrete

JSW Cement gears up for IPO

Published

on

By

Shares

JSW Cement has set the price range for its upcoming initial public offering(IPO) at US$1.58 to US$1.67 per share, aiming to raise approximately US$409 million. As reported in the news, around US$91 million from the proceeds will be directed towards partially financing a new integrated cement plant in Nagaur, Rajasthan. Additionally, the company plans to utilise US$59.2 million to repay or prepay existing debts. The remaining capital will be allocated for general corporate purposes.

Continue Reading

Concrete

Cement industry to gain from new infrastructure spending

Published

on

By

Shares

As per a news report, Karan Adani, ACC Chair, has said that he expects the cement industry to benefit from the an anticipated US$2.2tn in new public infrastructure spending between 2025 and 2030. In a statement he said that ACC has crossed the 100Mt/yr cement capacity milestone in April 2025, propelling the company to get closer to its ambitious 140Mt/yr target by the 2028 financial year. The company’s capacity corresponds to 15 per cent of an all-India installed capacity of 686Mt/yr.

Image source:https://cementplantsupplier.com/cement-manufacturing/emerging-trends-in-cement-manufacturing-technology/

Continue Reading

Trending News