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The Economic Times
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The Economic Times
UltraTech Cement, HCL Tech among 5 stocks with short covering
Short covering occurs when traders repurchase stocks they had borrowed and sold earlier, typically in response to changing market conditions or updated information.
Business Standard
UltraTech Cement raises $500 mln via sustainability-linked loan
UltraTech Cement announced that it has raised $500 million through a sustainability-linked loan (SLL) with participation from six banks.
Mint
Stocks to Watch: UltraTech Cement, AU Small Finance Bank, Vedanta, Medi Assist, Paytm and more
Here’s a quick look at stocks likely to be in focus in today's trade.
Business Line
Stocks that will see action today: August 27, 2024
Buzzing stocks: BHEL, Ultratech Cement, HCL Tech, PI Ind, MedPlus, Medi Assist, AU Small Finance Bank, Aurobindo Pharma, Alembic Pharmaceutical
Business Standard
UltraTech Cement raises $500 mn through sustainability-linked loans
The company added that the transaction marks the second sustainability-linked financing raised by UltraTech, following its inaugural sustainability-linked bond issuance in 2021
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Mon, Aug 26, 2024
Business Standard
UltraTech Cement raises $500 million via sustainability-linked financing
Sustainability-linked finance is a method through which borrowers meet environmental, social and governance targets while raising funds
CNBC TV18
UltraTech Cement raises $500 million through sustainability-linked financing
The transaction marks the second sustainability-linked financing by UltraTech, after its inaugural sustainability-linked bond issuance in 2021. Shares of UltraTech Cement Ltd ended at ₹11,315, down by ₹9.55, or 0.084%, on the BSE.
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Mon, Aug 26, 2024
Business Line
UltraTech Cement raises $500 m via sustainability loan
Sumitomo Mitsui Banking Corporation acted as sole Sustainability Coordinator for the transaction
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Mon, Aug 26, 2024
The Economic Times
UltraTech raises $500 million through sustainability-linked financing
UltraTech Cement raised $500 million through a sustainability-linked loan, marking its second such endeavour after a 2021 bond issuance. Six banks, including SMBC and SBI, participated. The company posted a slight increase in net profit for the quarter ended June 30, 2024, compared to the previous year, with revenue also seeing a modest rise.
The Economic Times
Ultratech Cement raises $500 million through sustainability-linked financing
UltraTech Cement secured $500 million through a sustainability-linked loan, with contributions from six banks, according to a stock exchange filing by the company. This deal represents UltraTech's second foray into sustainability-linked financing, following its first sustainability-linked bond issuance in 2021.
The Economic Times
Indian cement makers to invest Rs 1.25 lakh cr in 2 years to meet growing demand
The Indian cement industry is planning a capital expenditure of around Rs 1.25 lakh crore for FY25 to FY27 to meet increasing demand, according to a report by CRISIL. This will add 130 million tonnes of cement grinding capacity. The sector’s credit profiles are expected to remain stable due to low capex intensity and strong balance sheets. Major players such as UltraTech and Adani Group are leading the expansion. The top five cement manufacturers held around 54 per cent of the market share in FY24, indicating significant consolidation in the industry.
Business Standard
UltraTech to cross 200 mn tonne per annum capacity by FY27: K M Birla
Leading cement maker UltraTech is expected to cross 200 million tonne per annum capacity by FY27 helped by recent acquisitions and expansion projects, Chairman Kumar Mangalam Birla said on Wednesday. The Aditya Birla Group flagship firm has embarked on a capacity expansion drive "on a scale that is globally unprecedented" in the cement sector, he said while addressing the shareholders in the annual general meeting of the company. UltraTech last month announced acquisition of Tamil Nadu-based India Cements Ltd (ICL). Its Rs 3,142 crore open offer for acquiring 26 per cent stake will tentatively open on September 19. It has already announced the acquisition of a 32.72 per cent stake in ICL from promoters and their associates for Rs 3,954 crore. Besides, UltraTech is acquiring Kesoram Cement Business from Kesoram Industries, for which it received approval from fair trade regulator CCI in March. UltraTech is also increasing the capacity of its existing units as it faces competition fr
The Economic Times
UltraTech Cement, RBL Bank among 5 stocks with long unwinding
Sometimes stocks owned for a longer period are sold either to book profit or to exit it in anticipation of impending bearishness.
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Wed, Aug 14, 2024
Business Line
UltraTech Cement to hit 200 mtpa capacity by FY27, says Kumar Mangalam Birla
Expansion is not a number game, but will bring down cost
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Wed, Aug 14, 2024
Business Line
Stock Market Today: Sensex snaps two-day losing streak on rebound in IT shares
Sensex settles 149.85 pts higher, Nifty at 24,143.75; TCS, HCL Tech shine; UltraTech Cement, JSW Steel drag
Business Standard
Major cement companies report volume growth in Q1, revenue remains muted
Leading cement manufacturers reported single-digit volume growth in the June quarter, though their topline was muted on account of the continued downtrend in the price. Listed manufacturers such as UltraTech, Ambuja Cements, ACC, Shree Cements, and Dalmia Bharat - in their latest quarter earnings reported gains in volumes, ranging from 3 to 9 per cent and increase in capacity utilisation. However, soft cement prices have put their topline under pressure in the April-June period. Besides, raw material costs went up marginally due to an increase in the cost of fly ash and slag. The all-India average cement price was at around Rs 348 per 50 kg bag in June 2024, down around 3 per cent year-on-year. However, this was higher when compared to Rs 335 per bag in May 2024. For the first two months of FY25, the average cement price was at Rs 340 per bag, down 8 per cent YoY. In FY24, the average price was Rs 365 per bag and Rs 375 per bag in FY23, according to the report. Moreover, intense .
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Sun, Aug 11, 2024
The Economic Times
Major cement companies report volume growth in June qtr, revenue remains muted due to lower price
Major cement companies in India reported slight volume growth in the June quarter amid falling prices and higher raw material costs. UltraTech, Ambuja Cements, and ACC saw increased sales and capacity utilization. Nonetheless, overall revenue growth was limited, and construction activities slowed due to intense heatwaves and elections, hurting profits.
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Sun, Aug 11, 2024
The Economic Times
UltraTech Cement's open offer for ICL to open on September 19
UltraTech Cement announced a Rs 3,142 crore open offer to gain a 26% stake in India Cements Ltd, scheduled from September 19 to October 3. This followed a prior acquisition, boosting their stake to 55.49%. The purchase aimed to enhance UltraTech's footprint in the competitive southern Indian cement market, especially in Tamil Nadu.
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Fri, Aug 9, 2024
Business Standard
UltraTech Cement's open offer for ICL to open on Sept 19, close on Oct 3
UltraTech Cement's Rs 3,142 crore open offer for acquiring 26 per cent stake in India Cements Ltd (ICL) will tentatively open on September 19 and close on October 3. The Aditya Birla group flagship company has proposed to acquire 8.05 crore shares of ICL at Rs 390 apiece, said the draft of the offer submitted to bourses. The offer price is 6.3 per cent higher than the closing price of Rs 366.90 of ICL at BSE. The mandatory open offer was triggered after UltraTech on July 28 announced to acquire 32.72 per cent stake in ICL from promoters and their associates for Rs 3,954 crore. If subscribed fully, then based of the Rs 390 price, the open offer will come in at Rs 3,142.35 crore. Before this, UltraTech had acquired a non-controlling stake of around 23 per cent in ICL through two block deals, at around Rs 1,900 crore. The shareholding of UltraTech after the acquisition of 32.72 per cent stake in ICL from promoters and their associates, will be 55.49 per cent. UltraTech in the draft
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Fri, Aug 9, 2024
Business Line
India Cements: What change in ownership means for shareholders?
Ultratech could chart a new course for the oldest cement operator
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Mon, Jul 29, 2024
Mint
Sensex @80K: Sensex breached the 80,000-mark from 70,000 in a record 58 market sessions, the fastest-ever 10,000-point climb in its history.
The Economic Times
Orient Cement shares zoom over 5% amid UltraTech’s plans of acquisition
UltraTech, led by Kumar Mangalam Birla, is in advanced talks to acquire Orient Cement from CK Birla for Rs 350-375 per share to counter Adani Cement, following a 23% stake in India Cements. Valued at Rs 6,417.51 crore or $109-110 per ton, Orient Cement's acquisition might finalize by July 19, pending Telangana expansion contingency.
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Thu, Jul 4, 2024
Business Line
Nomura’s top cement stock picks: Shree Cement, Ultratech, Ramco Cements, and Nuvoco
Nomura identifies aggressive expansion targets and stronger balance sheets of major cement players as key drivers for sector consolidation
The Economic Times
UltraTech buys 23% stake in India Cements
UltraTech, the Aditya Birla Group cement maker and the country's largest, bought 70.6 million shares of India Cements as a "non-controlling financial investment" at up to Rs 267 a share, the acquirer said in customary filings Thursday morning. UltraTech bought the shares from billionaire investor Radhakishan Damani, his family members and his investment firms Derive Investments and Derive Trading and Resorts.
Business Line
UltraTech Cement buys 23% in India Cements for ₹1,885 crore
The non-controlling financial investment was made at ₹267 per share and approved by the company’s board, said UltraTech in a statement on Thursday
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Thu, Jun 27, 2024
The Economic Times
A war of titans builds up in India's cement sector
The UltraTech-India Cements deal comes two weeks after Adani Group unit Ambuja Cement announced acquisition of Hyderabad-based Penna Cement at an enterprise value of Rs 10,422 crore, adding to its capacity and market share in southern India.
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Thu, Jun 27, 2024
Business Line
Goldman Sachs unveils new ratings for cement stocks: Ultratech, Shree, Ambuja, Dalmia, and ACC
Goldman Sachs’ latest report provides valuable insights for investors in the Indian cement sector. Its strategic assessments and price targets highlight opportunities and risks across major companies
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Thu, Jun 27, 2024
Business Line
UltraTech Cement, India Cements Share Price Updates: UltraTech Cement, India’s top cement producer by capacity, said on Thursday it will buy a 23 per cent stake in India Cements for up to ₹1,885 crore (about $226 million). UltraTech said it would buy 70.6 million India Cements shares for up to ₹267 each, a 1.7 per cent premium to the stock’s closing price on Wednesday. India Cements stock closed at ₹292 on the BSE on Thursday, up by 11.05%, and at ₹291.75 on the NSE, up by 11.09%. UltraTech Cement stock closed at ₹11,750 on the BSE on Thursday, up by 5.38%, and at ₹11,749.85, up by 5.45%.
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Thu, Jun 27, 2024
Business Line
Shrikant Chouhan at Kotak Securities anticipates potential profit booking at higher levels but suggests buying opportunities if Nifty retreats to 23,775-23,750/78,300-78,200 levels
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Thu, Jun 27, 2024
Business Line
UltraTech Cement buys 23% stake in India Cements for ₹1,885 crore
Ultratech will purchase up to 7.06 crores equity shares of India Cements at a price of up to ₹267 per share
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Thu, Jun 27, 2024
Business Line
Nifty metal and realty indices declined over 1 per cent
Business Line
Stocks that will see action today: June 26, 2024
Buzzing stocks: Zee, Sanghi Cement, Ambuja Cements, , UltraTech Cement, NTPC, CE Info Sys, Tech Mahindra, Coforge, Cigniti, Alkem La, Mindspace REIT, M&M Financial, Punjab & Sind Bank, Vishnu Prakash, Time Technoplast, Gulshan Polyols, Inventure Growth, RattanIndia Enterprises
The Economic Times
UltraTech Cement revises offer, to acquire 25 pc of UAE-based RAKWCT
UltraTech Cement revised its offer to acquire 25% of UAE-based RAKWCT, down from the initial 31.6%. The deal involves 12.50 crore shares and targets the Abu Dhabi stock exchange. The company had a turnover of Rs 482.5 crore in CY21, and UltraTech has a consolidated capacity of 152.7 million tonnes per annum of grey cement.
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Tue, Jun 25, 2024
Business Line
According to Anand James, Chief Market Strategist at Geojit Financial Services, the market is likely to consolidate within a certain range, with minimal expectations of an upside break
The Economic Times
F&O stocks: Coromandel International, Deepak Nitrite among 5 stocks with short buildup
Stocks like Coromandel International, Tata Chemicals, Deepak Nitrite, UltraTech Cements, and Ramco Cement witnessed a build of fresh short positions due to a decline in stock prices and an increase in open interest.
