Economy & Market

Chettinad gets investors’ nod to delist its shares

Published

12 years ago

February 6, 2013

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To delist its shares from the National Stock Exchange (NSE) and Madras Stock Exchange Chettinad Cement has received its shareholders approval. With this investor nod, the share of the company under ‘permitted to trade’ category on the Bombay Stock Exchange (BSE) will also be delisted. Chettinad Holdings, a promoter group company, had made a voluntary open offer to buy-back floating stocks through a book building process.

The voting which was made through postal ballot and electronic mode commenced on January 4 and ended on February 1.

In May 2012, the company had said, under delisting regulations the floor price arrived at was Rs 540, but promoters had given indicative price of Rs 575 a share. In 2007, the promoters made an open offer at Rs 450 a share to increase their stake by 8.87 per cent. They acquired nearly 26.1 lakh shares. Currently, the promoters own 88.44 per cent, domestic institutional investors hold 3.25 per cent and retail and other investors have 8.31 per cent.

Concrete

Shree Cement reports 2025 financial year results

Published

6 days ago

June 17, 2025

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Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

6 days ago

June 17, 2025

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Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

6 days ago

June 17, 2025

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According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/