Brokers bullish on UltraTech Nov 17, 2009
MUMBAI: Most brokerages domestic and foreign on Monday appeared bullish on UltraTech Cement, as they believe that the Aditya Birla Group cement company will be able to command better valuations due to its bigger size and presence in the northern market, post the merger of Samruddhi Cement with itself. UltraTech on Sunday announced merger of a group company Samruddhi Cement with itself ... UltraTech, which will emerge as the largest cement company in the worlds second-biggest market... (India Times)
UltraTech to buy Samruddhi Nov 16, 2009
SINGAPORE: UltraTech Cement, a unit of conglomerate Aditya Birla Group, is absorbing sister unit Samruddhi Cement, to form India's biggest cement firm, both companies said ... In October, the group said it will hive off the cement business of flagship firm Grasim Industries into unit Samruddhi in a cashless transaction and later merge it with group firm UltraTech ... Samruddhi shareholders will receive four shares of UltraTech for every seven held in Samruddhi. (India Times)
UltraTech, Samruddhi merger okayed Nov 16, 2009
UltraTech, Samruddhi merger okayed - India Business - Biz - The Times of India ... UltraTech, Samruddhi merger okayed ... MUMBAI: The cement consolidation plan of Aditya Birla group, involving merger of Samruddhi Cement into UltraTech Cement, has got the go-ahead of the respective boards on Sunday, which will create the largest cement company in India with an annual capacity of close to 50 million tonne. (India Times, India -- Intl Business)
Cement prices may fall by Rs 7 nxt mth Nov 13, 2009
According to cement dealers, major firms such as ACC, Ambuja, UltraTech, India Cements and mid-sized players like Shree Cement, Binani, Dalmia, JK Lakshmi have already sent feelers for reducing the prices. The current available stocks would be sold with a revised tag from December, said one of the dealers, who added that the margin difference will be borne by cement companies. (India Times)
Grasim net profit up 61% at Rs 674cr Oct 30, 2009
This includes an outlay of Rs 2,055 crore for UltraTech Cement. This is proposed to be invested over the next three years. (India Times, India -- Intl Business)
India Inc keeps up profit rally in Q2, sales dip Oct 26, 2009
UltraTech, which is set to emerge as the countrys largest cement company after the merger of Grasims cement business with itself, beat expectations and announced a 53% rise in net profit aided by higher sales and lower costs. 1. (India Times)
India Cements presents an opportunity for long-term investors Oct 19, 2009
6 times its book value, while UltraTech cement, which also has a 00004000 presence in the south, trades at 2 ... 6%, is higher than that of Shree Cement and UltraTech cement ... Other south-based players like Madras Cement trades at a P /E of 7, while for UltraTech cement it is at 9. (India Times)
Market remains in the intermediate uptrend Oct 19, 2009
The other nonindex stocks to go down included Jet Airways, HPCL, Bajaj Auto, BPCL, Ultratech Cement, Kingfisher Airlines and Dr Reddys Laboratories with losses falling between 7. 8% and 1. (India Times)
Ultratech improves profit margins Oct 17, 2009
Ultratech improves operating profit margins- Stocks in News-Stocks-Markets-The Economic Times ... Ultratech improves operating profit margins17 Oct 2009, 0132 hrs IST, Amriteshwar Mathur, ET Bureau ... Ultratech Cement has improved its operating profit margins which rose 890 basis points YoY to 31. (India Times)
UltraTech Q2 net up 53% Oct 17, 2009
UltraTech Q2 net up 53 ... MUMBAI: Aditya Birla group company UltraTech Cement has reported a 53% rise in net profit to Rs 251 crore for the second quarter (Q2) ended September 30, 2009, on a 10% rise in net sales at Rs 1,541 crore ... Aditya Birla group company UltraTech Cement has reported a 53% rise in net profit to Rs 251 crore for the second quarter (Q2) ended September 30, 2009, on a 10% rise in net sales at Rs 1,541 crore. (India Times, India -- Intl Business)
Cheerful outlook for mkts, several cool picks: Geojit BNP Paribas Oct 17, 2009
We just heard the management of UltraTech Cement comment, so how are you placing this particular stock or any other stock in the cement space that appealed to you. I think I would leave aside UltraTech as of now because it needs to possibly unfold and with Samruddhi going forward, what is going to be the strategy, it is going to be a little bit sticky wicket to possibly bat on. (India Times)
Aditya Birla Nuvo to hive off fin services biz in 3 phases Oct 15, 2009
Two weeks ago, the group announced that the cement business of Grasim will be hived off into a wholly-owned arm called Samruddhi, which will eventually be merged with UltraTech Cement, a 55% subsidiary, to create the countrys largest cement maker. The cement restructuring process is expected to be over by 6-8 months, the group had earlier said. (India Times)
Delayed monsoon a blessing in disguise for cement cos Oct 13, 2009
Indias top four cement companies - ACC, Ambuja Cements, Grasim and Ultratech Cement - are expected to report improved earnings on a Y-o-Y basis in the September 2009 quarter, thanks largely to a reduction in key input costs such as power on a per-tonne basis on a Y-o-Y basis, coupled with lower freight costs ... In the case of Ultratech cement, net sales are expected to grow by 10. (India Times)
Analysts' Picks: Ultratech Cement, Great Eastern Shipping, RIL, ARIL Oct 12, 2009
Read business stories in. Other stories in this section. (India Times)
Ultratech to get financial muscle: Kumar Mangalam Birla Oct 7, 2009
MUMBAI: Ultratech Cement will have increased flexibility to borrow from the market to fund large-scale future expansions under a recently-announced restructuring plan as compared to a more widely-expected option that would have seen all cement businesses getting concentrated with Grasim, Aditya Birla group chairman Kumar Mangalam Birla told ET on Tuesday ... The group was pilloried by a section of investors, after it announced on Saturday that it had decided to spin off the cement business of... (India Times)
Cement to be under pressure; PNB, IOB, Corp Bank have potential: HSBC InvestDirect Oct 7, 2009
Prism Cement numbers, a small company but if there are any indication of how the quarter could pan out, quarter and quarter they were really disappointing and of course news surrounding Grasim and Ultratech as well, two of the largest companies. How do you play the cement pack. (India Times)
Do you expect the market correction to continue? Oct 6, 2009
Grasim Industries was under pressure after following the Aditya Birla groups decision to hive off the cement business of the company into a separate unit, Samruddhi Cement, in a cashless transaction and later merge it with group firm Ultratech Cement. Bharti Airtel witnessed a sell-off after the company failed to strike a merger deal with South African company MTN. The stock had seen some upward correction on Thursday after the talks were called off, putting investor uncertainty to rest over... (India Times)
Grasim moves to calm investors Oct 6, 2009
The company that is formed by merging the cement business with UltraTech will be Grasims subsidiary ... Conglomerate Grasim last week proposed to spin off the cement units to a new company called Samruddhi to create the nations biggest cement producer with a 49-million-tonne capacity as it would eventually merge it with UltraTech, where Grasim owns 55 ... Sources close to the group explained that UltraTech, which would control a huge cement capacity post the entire transaction, would be... (India Times)
Birla groups may integrate, create opportunities for investors Oct 6, 2009
Is there more to Grasim's move to spin-off its cement business and merge it with its 51% subsidiary UltraTech Cement ... The planned merger of Grasim's cement division with UltraTech Cement could be the precursor to the eventual integration of the BK Birla group companies with Aditya Birla group ... For instance, if the BK Birla Group's cement business is merged with UltraTech Cement in future, it will create one of world's top cement makers controlling a third of the Indian market. (India Times)
Investors may play it safe as Q2 results near Oct 5, 2009
Shares of UltraTech Cement are expected to rise further on Monday, but gains could be limited by the fact that Grasim Industries will not be transferring its cement business to UltraTech immediately ... The impending sale of Grasims cement business to UltraTech has again brought to the fore the issue of leadership at the countrys largest cement group. (India Times)
Should India consider some kind of criteria for CEO compensation? Oct 5, 2009
No 'vulgar' salaries please, Khurshid tells India Inc - Jobs-News By Industry-News-The Economic Times. No 'vulgar' salaries please, Khurshid tells India Inc 4 Oct 2009, 1122 hrs IST, PTI. (India Times)
Companies that may report best Q2 earnings Oct 5, 2009
Companies likely to report best earnings in Q2- Investor's Guide-Features-The Economic Times. Companies likely to report best earnings in Q25 Oct 2009, 0751 hrs IST, ET Bureau. (India Times)
Market Watch: Nifty languishes below 5050; realty,oil&gas down Oct 5, 2009
Shares of Grasim were under pressure after after the Aditya Birla groups decision to hive off the cement business of the company into unit Samruddhi Cement in a cashless transaction and later merge it with group firm Ultratech Cement ... The impending sale of Grasims cement business to UltraTech has again brought to the fore the issue of leadership at the countrys largest cement group. (India Times)
'Mkt to remain stock specific, HCC, Central Bank good buys on dips' Oct 5, 2009
Grasim in particular, would that be an avoid as well and are there any cues which show that there is probably some kind of a sell signal because UltraTech on the other hand has shown some very positive activity the whole of last week ... The impending sale of Grasims cement business to UltraTech has again brought to the fore the issue of leadership at the countrys largest cement group. (India Times)
Govt to keep tab on CEOs salary Oct 4, 2009
No 'vulgar' salaries please, Khurshid tells India Inc - Jobs-News By Industry-News-The Economic Times. No 'vulgar' salaries please, Khurshid tells India Inc 4 Oct 2009, 1122 hrs IST, PTI. (India Times)
HCL Tech to hire 2K people Oct 4, 2009
The impending sale of Grasims cement business to UltraTech has again brought to the fore the issue of leadership at the countrys largest cement group. 00003807. (India Times)
Grasim to demerge cement biz into Samruddhi Oct 4, 2009
Gupta said Samurddhi would be listed in another six months from now and would be later merged with UltraTech Cement. UltraTech is another group company into cement business, in which Grasim has a majority stake of 55 ... The Aditya Birla group had bought over Lnt from engineering major Llater rebranded it as UltraTech. (India Times, India -- Intl Business)
Manhattan apartment prices drop Oct 4, 2009
International Business. NEW YORK: Manhattan apartment prices fell for a second consecutive quarter, helping drive the biggest gain in sales in more than 13 years as buyers seized on discounts. (India Times)
Birla set to recast cement business Oct 2, 2009
MUMBAI: Kumar Mangalam Birla is set to announce a mega consolidation of the group's cement business, currently housed under two different entities Grasim Industries and UltraTech Cement. A meeting of the board of directors of Grasim Industries has been scheduled for October 3 to consider a restructuring proposal, which, according to market sources, could result in the transfer of Grasim's cement business assets to its subsidiary company, UltraTech Cement, making it the single largest cement... (India Times, India)
Grasim to sell cement biz to UltraTech Oct 2, 2009
UltraTech will buy Grasims cement division in a deal worth more than $2 billion as the Aditya Birla Groups attempts to consolidate its cement business under one single roof reaches fruition after 11 long years. UltraTech, 55% owned by Grasim Industries, will buy the latters cement plants with an annual production capacity of 22 million tonnes and issue shares worth more than Rs 9,500 crore to its parent ... UltraTech shares soared to a 52-week high of Rs 872 and closed 6. (India Times)
Cement sales up on realty, infra push Oct 2, 2009
The Birla Group has a combined annual production capacity of 42 million tonne through Grasim Industries and subsidiary UltraTech Cement. Sales of Delhi-based JK Lakshmi Cement for September totalled 9. (India Times)
Birla Group Aug cement shipments up Sep 2, 2009
The group's cement business includes flagship Grasim Industries and unit UltraTech Cement, with a combined production capacity of 42 million tonne a year ... 08 per cent while Ultratech Cement fell 1. (India Times)
Sectors & companies that maintiain growth trajectory Aug 10, 2009
ACC, Grasim, Shree Cement, Ultratech Cement have done well. Ambuja Cements, Madras Cement, India Cement were the laggards. (India Times)
Insurers book gains on way up Aug 7, 2009
7%) and Ultratech Cements (+1. 5%) have witnessed insurers' investment interest. (India Times)
Analysts Pick: Ultratech Cement, Tata Power, Ambuja Cement Jul 27, 2009
Citigroup maintain Sell rating on UltraTech Cement (ULTC) with a target price of Rs 500 ... Analysts' take on Ultratech Cement, Tata Power, Ambuja Cement, Gujarat State Petronet. (India Times)
UltraTech net up 58% on volume growth Jul 22, 2009
UltraTech net up 58% on strong volume growth- Earnings-News By Company-News-The Economic Times ... UltraTech net up 58% on strong volume growth22 Jul 2009, 0253 hrs IST, ET Bureau ... MUMBAI: Riding on volume growth, the Aditya Birla Group-owned UltraTech Cement announced a better-than-expected result with a 58% rise in net profit at Rs 418 crore in the June quarter. (India Times)
FIIs, MFs hike stake in over 100 cos Jul 20, 2009
Companies like Gateway Distriparks , Ultratech Cement, IRB Infrastructure Developers, Mahindra dra Financial Services, Bombay Dyeing, Nagarjuna Fertilisers cals , K S Oils, Gujarat NRE Coke, Sesa Goa, Thermax, Mercator Lines, Suzlon Energy and South Indian Bank saw FIIs and MFs simultaneously hiking their stakes. Tata Power, Lupin, Cadila Healthcare, Ashok Leyland , Cairn India and Amara Raja Batteries also saw the same trend. (India Times)
L&T Q1 net triples, beats forecast Jul 16, 2009
MUMBAI: Largest engineering and construction firm of India, Larsen o Ltd, said its quarterly profit tripled, helped by an exceptional gain from sale of its investment in UltraTech Cement ... 2 billion rupees on sale of its long-term investment in UltraTech, the company said ... Larsen & Toubro Ltd said its quarterly profit tripled, helped by an exceptional gain from sale of its investment in UltraTech Cement. (India Times, India)
Post-Budget rally shows 47 market survivors Jul 12, 2009
Major cement companies such as Ambuja Cements and Ultratech Cement gained 6% and 3%, respectively in the last five trading session only. According to Mr Chakraborty, the government seems to have shifted its focus on rural housing and infrastructure construction. (India Times)
AVB group may unite Grasim and UltraTech Jun 25, 2009
The Aditya Birla group, the countrys second largest cement maker, is looking at consolidating its cement business currently being run by Grasim Industries and UltraTech Cement following the exit of Larsen ro (Lm UltraTech ... 5% stake in UltraTech to a handful of financial investors a few weeks ago ... An investment banker close to the development said the group, for all practical purposes, has been managing its cement business as a single entity, but had not merged the two companies... (India Times)
AVB may not buy L&Ts 11.5% stake in UltraTech May 29, 2009
AB Group may not buy L&T's stake in UltraTech- Engineering-Ind'l Goods / Svs-News By Industry-News-The Economic Times ... AB Group may not buy L&T's stake in UltraTech29 May 2009, 0141 hrs IST, ET Now ... Aditya Birla Group is unlikely to buy Larsen os (L5% stake in its subsidiary UltraTech Cement, as it does not want to launch the mandatory open offer, which, if successful, would scale up its equity in the cement company to 86%, a person familiar with the groups thinking said. (India Times)
Grasim net dips marginally May 20, 2009
Grasim's subsidiary, UltraTech Cement, reported a profit after tax of Rs 312 crore as against Rs 285 crore in the corresponding quarter. Its net revenues improved by 17% at Rs 1,929 crore, driven by a volume growth of 13. (India Times, India -- Intl Business)
India Inc registers better revenues May 12, 2009
Some notable firms who reported better revenue growth despite the slowdown in the economy are, Hero Honda, Coromandel Fertilisers, Axis Bank, MRF, Cipla, State Trading Corporation, UltraTech Cement and Infosys. Although a part of the better sales growth could be due to higher inflation pushing up prices of products, which has moderated over the last one quarter, it also shows for many companies demand has not been impacted to any great extent. (India Times)
The top 200 companies Apr 20, 2009
Market capitalization is as of March 31. Here are the largest public companies in the nine-county Bay Area ranked by revenue during the most recent four quarters for which data were available. (San Francisco Chronicle)
Glamour game Apr 18, 2009
" Celebrity owners The IPL has added its own brand of glitzy glamour to cricket, with players auctioned for dizzying sums and cheerleaders bringing glamour, US-style, to matches. Shilpa Shetty of Rajasthan Royals and Preity Zinta of Kings XI Punjab The Kolkata Knight Riders franchise is co-owned by Bollywood star Shahrukh Khan, Indian businessman Jai Mehta and his Bollywood actress wife, Juhi Chawla. Other team owners include like Reliance Industries chairman Mukesh Ambani, alcohol baron and... (BBC News -- Africa)
SEMI book-to-bill climbs amid slump Apr 18, 2009
At the same time, ASML, Ultratech and others posted mixed results. And an analyst downgraded ATE supplier Teradyne Inc.. (EETimes)
Business Briefing Apr 13, 2009
-- Earnings reports expected from Biogen Idec, Cypress Semiconductor, Google, JPMorgan Chase, Mission West Properties, Southwest Airlines, Ultratech. F. (San Francisco Chronicle -- Business)
Cement prices seen easing Apr 9, 2009
Shree Cement, India Cements, Ultratech and Grasim Industries are also adding capacity. But analysts say average growth will come down. (India Times)
Cement cos blame govt for price rise Apr 6, 2009
Retail cement prices had gone up to Rs 260 a bag, the report said, and big players, such as ACC, Ambuja Cements, 00004000 Grasim and UltraTech, had communicated about the price hike to dealers. Some cement companies feel that in addition to the sudden spurt in cement consumption in infrastructure projects, the governments policy was responsible for the price increase. (India Times)
Is the sharp increase in global markets justified considering the current state of world economy? Apr 3, 2009
Big players such as ACC, Ambuja Cements, Grasim and UltraTech have communicated about the price hike to dealers. Biggest gainers in the space included JK Cement, Madras Cement, Binani Cement and JK Lakshmi Cement. (India Times)
L&T, Grasim settle dividend dispute Mar 20, 2009
49% stake in Ultratech, the Birla group cement firm ... At Thursdays closing price of Ultratech at Rs 470 ... 55, Lstake in Ultratech is worth almost Rs 600 crore. (India Times)
High coal prices dent cement firms realisations Feb 7, 2009
On Friday, ACC shares on the BSE closed at Rs 538, Ambuja Cement at Rs 71, Shree Cement at Rs 517, India Cements at Rs 106, Madras Cements at Rs 64, UltraTech at Rs 420 and Grasim Industries at Rs 1,413. More Stories on. (Hindu Business Line)
