Cement News

Stocks that will see action on December 5, 2022


The open offer from Adani group to NDTV shareholders closes today. The open offer launched on November 22 at a price of ₹294 a share has seen shareholders tender 53 lakh, or 31.78 per cent of the issue size of 1.67 crore shares. .

SJVN, through its Wholly Owned Subsidiary SJVN Green Energy Limited, has bagged 200 MW Solar Power Project on Build Own and Operate (BOO) basis from Maharashtra State Electricity Distribution Company Limited. The tentative cost of this project is around ₹1,200 crore and the project is expected to generate 455.52 million units in the first year and the cumulative energy generation over a period of 25 years would be about 10480.82 MUs.

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Hindustan Aeronautics Ltd has received Income Tax Refund Order for the Assessment Yeas 2011-12. The said order was passed allowing R&D Expenditure of ₹595.23 crore as capital expenditure, resulting in refund of ₹427.45 crore. The said refund includes interest of ₹176.93 crore.

UltraTech Cement Limited has announced the commissioning of: 1.8 mtpa greenfield grinding capacity at Dhule Grinding Unit, Maharashtra; and 1.8 mpta brownfield clinker backed 2nd grinding capacity at Dhar Cement Works, Madhya Pradesh. The expansions are part of the first phase of capacity expansion announced in December 2020. The company’s total cement manufacturing capacity in India now stands at 119.45 mtpa.

The Competition Commission of India had earlier issued an order concerning anti-competitive practices by a few tyre manufacturing companies, including Apollo Tyres Ltd. The company had filed an appeal against the aforesaid order before the National Company Law Appellate Tribunal, New Delhi. NCLAT through its judgement has disposed of the appeals by remanding back the case to CCI for review.

Chemfab Alkalis Ltd has received Consent to Operate (CTO) for Caustic Soda Lye enhancing the capacity from the existing capacity of 56,575 tpa to 65,700 tpa without any additional investments. Consent capacities of all co-products has also been enhanced.

The Committee of Creditors of Uniply Décor Ltd (in CIRP) has approved Resolution Plan submitted by West Coast Paper Mills Ltd, as per provisions of Insolvency and Bankruptcy Code, 2016.

Amara Raja Batteries Limited has signed a memorandum of understanding with the Government of Telangana to set up research and manufacturing facilities for lithium-ion battery-making in Mahbubnagar district. Over the next 10 years, the company intends to invest over ₹9,500 crore, after necessary approvals.

The board of Sanghi Industries Ltd has approved the issuance of 73.26 lakh shares to Thinkfar Tradelink Private Limited (Promoter Group Entity), on a preferential basis, at a price of ₹68.25, aggregating to about ₹50 crore subject to necessary approvals.

JK Cement on Saturday commenced clinker production with an installed capacity of 2.64 mtpa at its newly set up cement manufacturing facilities situated at Panna, Madhya Pradesh.

I on Exchange (India) Ltd has been awarded a contract by Indian Oil Corporation for designing, engineering, manufacturing, supply, erection, testing, pre-commissioning, commissioning, performance guarantee test tun and operation & maintenance for five years of Zero Liquid Discharge plant at Panipat Refinery at a contract value of ₹343.36 crore including GST. The project is to be commissioned within 16 months from the date of Letter of Acceptance.

Ashok Alco-Chem Ltd has exercised its option to convert Loan amounting to Rs 5 crore into equity shares of Aeon Procare Private Limited, wholly owned subsidiary. There will be no change in the status and Aeon will remain Wholly Owned Subsidiary of the Company.

The National Company Law Tribunal, Chandigarh Bench, has approved the amalgamation of Satva Jewellery and Design Limited, a wholly owned subsidiary of KDDL, with the latter.

Zodiac Energy has received an order worth ₹13.66 crore from IRM Energy Ltd for designing, construction, operation and maintenance of a ground mounted captive solar PV power plant (SPP) with an installed capacity of 3000 KWp (DC) and 2500 KW (AC) from IRM Energy Ltd, which is engaged in the city gas distribution services.

Pasupati Acrylon: Indian Bank (formerly Allahabad Bank) has released pledge over 1.51 crore shares held by Promoter & Promoter Group of the company (being 25.76 per cent of total promoters’ holding and 16.97 per cent of paid-up capital of the company that were pledged as security for the credit facilities. With this, the entire shareholdings of promoter & promoter group are free from any encumbrance.

Integra Essentia Limited as a measure of backward integration, in line with its pre-defined long-term objectives of having its own manufacturing/food-processing unit has identified and acquiring 7.66 Acres Industrial Land in strategically located at Hissar, Haryana. The Industrial land shall cost approx. ₹24.50 crore, to be paid in phased manner, and to be funded substantially by internal accruals and promoters’ financial assistance.

Dilip Buildcon Ltd has executed a contract agreement with the Gujarat Metro Rail Corporation (GMRC) for construction of 8.702 kms elevated viaduct and 7 nos. stations under corridor-2 in connection with Surat Metro Rail Project Phase – 1. The project cost is ₹702.02 crore and completion period is 26 months.

Indo Count Industries has approved the allotment of 6,54,404 shares pursuant to the Scheme of amalgamation (by way of merger by absorption) of Pranavaditya Spinning Mills Limited with itself.

Avanti Feeds has successfully commenced commercial production at new Feed Manufacturing plant situated at Bandapuram, Andhra Pradesh with an estimated total cost of ₹125 crore. The total production capacity (all units) of the company has been increased from 6 lakt tonnes to 7.75 lakh tonnes.

Centrum Capital: Centrum Housing Finance Limited (CHFL), the affordable housing finance arm of the diversified Centrum Group, has entered into a binding agreement to acquire the housing finance business of National Trust Housing Finance Limited. It has a loan book of over ₹300 crore and the acquisition will propel CHFL’s AUM to over ₹1,000 crore.


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