Ambuja Cements, ACC shares decline as CCI initiates investigation against cement companies The stock of Ambuja Cements declined 2.96 per … As a premium subscriber you get an across device unfettered access to a range of services which include: Welcome to the premium services of Business Standard brought to you courtesy FIS. Antitrust body, the Competition Commission of India (CCI), on Wednesday raided the offices of top cement manufacturing companies, including UltraTech Cement, Shree Cement, Ambuja Cement, ACC, Dalmia Cement, and Rockstrong Cement, over allegations of price coordination and collaborating levels of cement supply, The Indian Express has learnt. The total cement capacity of the company is 18.5 million tones. ), Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Shares of ACC and Ambuja Cements were up 4% to 5% after the companies announced the renewal of technical know-how fees (TKH) to parent at 1% of net sales for the next two years. Updated: 02 May 2019, 12:57 AM IST Harsha Jethmalani. Kindly visit the Manage my subscription page to discover the benefits of this programme. Mumbai-based Ambuja Cement registered a consolidated net profit of Rs 803.5cr during the quarter ending September 2020. Copyrights © 2020 Business Standard Private Ltd. All rights reserved. The company sold 9.95Mt of cement over the period, down by 18% from 12.2Mt. Ambuja Cement has also declared an interim dividend of Rs 17 per share. Meanwhile, the S&P BSE Sensex was down 332 points or 0.84% to 38,966.48. HTL held 4.48% stake in ACC while its stake in Ambuja Cements was 63.27% as on 30 September 2020. Consolidated sales volume fell 3.16% to 11.63 million tonnes in Q3 September 2019 as against 12.01 million tonnes in Q3 September 2018. ), Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. The above factors along with higher spends in infrastructure and affordable housing are also expected to favor demand. sharp cut in corporate tax, aggressive divestment plan coupled with the Reserve Bank of India's latest interest rate cuts, ought to augur well for the economy. The firm operates through cement and cement related products segment. New Delhi: Ambuja Cements and ACC, both owned by Swiss group LafargeHolcim, on Thursday said they will make investments worth over Rs 780 crore at their plants to reduce carbon dioxide emissions.The companies would be investing in green power generation that will help reduce the carbon footprint, according to a joint statement. For the quarter ended September 2020, AMBUJA CEMENT has posted a net profit of Rs 8 bn (up 51.4% YoY). With these efforts, I am happy to announce that Ambuja Cement is now ranked 4th in the global Dow Jones Sustainability Index rankings, emphasizing our strong focus on sustainability. The consolidated result of Ambuja Cements also includes the financial performance of … In its outlook, the company said that recent reforms announced by the government, i.e. Ambuja Cement is set to announce its quarterly financial performance anytime on Monday. Ambuja Cements is engaged in the manufacture of clinkers and cement. The cement maker had reported a net profit of Rs 412.05 crore in the same quarter a year ago. In the … (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed. Capital Market  Business Finance, Capital Market  I am also happy to report significant progress at our greenfield project site in Marwar Mundwa." Managing director and chief executive officer (CEO) Neeraj Akhoury said, “Volumes were impacted during the … HTL held 4.48% stake in ACC while its stake in Ambuja Cements was 63.27% as on 30 September 2020. In separate regulatory filings made after market hours yesterday, ACC and Ambuja Cements said that their respective boards had approved the renewal of the existing technology and know-how agreement (TKH agreement) with Holcim Technology (HTL) under which they pay TKH fees at 1% of net sales each year, to HTL, for a period of 2 years with effect from 1 January 2021, i.e., on the same terms of the existing TKH Agreement. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Its … India Ltd counter, SSWL bags new export orders from US, Europe, Bharat Petroleum Corporation Ltd rises around 1%, Tata Power Company Ltd spurts 1.35%, up for third straight session, Indian Oil Corporation Ltd up for third straight session, Ambuja Cements hits 52-week high, spurts 18% in eight days, Indices hit day's low; breadth turns weak, Sensex rises 500 pts; India VIX tumbles nearly 5%, Access Exclusive content - articles, features & opinion pieces, Weekly Industry/Genre specific newsletters - Choose multiple industries/genres, Access to 17 plus years of content archives, Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box, End of day news alerts on 5 companies (via email). Chandigarh Colonisers' MD duped after buying cement from fake Ambuja website Team Business Standard, Last Updated at October 22, 2019 17:04 IST, eClerx Services gains on acquring US-based firm, Lemon Tree Hotels Ltd leads losers in 'A' group, Valiant Organics Ltd leads losers in 'B' group, Volumes soar at Johnson Controls-Hitachi Air Condition. Get latest Ambuja Cements News/Updates and Results/Analysis. Digital Editor. India: Ambuja Cement’s net profit in the first half of 2020 was US$22.1m, up by 1.5% year-on-year from US$21.7m in the first half of 2019. Mumbai: In a board meeting yesterday, ACC/Ambuja announced renewal of Technical Know-how fees (TKH) to parent at 1% of net sales for next 2 years, w.e.f. Ambuja Cements lost 5.71% to Rs 195.80 after consolidated net profit jumped 33.68% to Rs 385 crore on 1.36% rise in net sales to Rs 5,957 crore in Q3 September 2019 over Q3 September 2019. Meanwhile, the S&P BSE Sensex rose 395.42 points or 0.85% to 46,839.60. Ambuja Cement Limited on Thursday reported a 50.5% year-on-year (YoY) increase in consolidated net profit at Rs 803.5 crore, for the July-September quarter. ACC rose 4.77% to Rs 1655 while Ambuja Cements jumped 6.24% to Rs 252.15. January 01, 2021.The agreement is renewed on the same terms and conditions as exists in the current ongoing agreement which expires in December 2020. Last Updated at October 22, 2019 17:04 IST. Enjoy Reading! As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. We, however, have a request. "In the backdrop of general slowdown in economy and subdued construction activity, Ambuja has delivered yet another quarter of good EBITDA and PAT growth despite lower volumes. Ambuja’s greenfield plant in Rajasthan with clinker and cement capacity of 3 million tonnes and 1.8 million tonnes is scheduled for commissioning by June-2021. On a year-to-date (YTD) basis, the benchmark S&P BSE Sensex has added 13.43% while ACC and Ambuja Cements have gained 13.39% and 27.66%, respectively. It revenues dropped by 7.8% to US$1.07bn from US$1.16bn, primarily due to the impacts of the Coronavirus outbreak. AMBUJA CEMENT has announced its results for the year ended December 2019. Enjoy Reading! document.write("");googletag.cmd.push(function(){googletag.defineOutOfPageSlot('/6516239/outofpage_1x1_desktop','div-gpt-ad-1490771277198-0').addService(googletag.pubads());googletag.pubads().enableSyncRendering();googletag.enableServices();}); Meanwhile, the S&P BSE Sensex rose 395.42 points or 0.85% to 46,839.60. Ambuja Cements (ACEM) board of directors has approved renewal of the technical and know-how (TKH) agreement with parent Holcim Technology (HTL) on same terms as the current agreement. (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed. Cement major Ambuja is in focus ahead of it’s earnings as peer companies so far have managed to post operationally strong numbers. Digital Editor. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. Topics Ambuja Cements Q3 consolidated net up 51 per cent at Rs 804 cr EBITDA increased by 55 per cent for the quarter Ambuja Cement net down 29 pc on lower sales Ambuja Cement has reported a … We believe in free, fair and credible journalism. Copyrights © 2020 Business Standard Private Ltd. All rights reserved. Print India: Ambuja Cement’s profit in the first nine months of 2020 was US$176m, up by 21% year-on-year from US$146m in the first nine months of 2019. India Ltd counter, SSWL bags new export orders from US, Europe, Bharat Petroleum Corporation Ltd rises around 1%, Tata Power Company Ltd spurts 1.35%, up for third straight session, Indian Oil Corporation Ltd up for third straight session, Ambuja Cements reports 31 pc jump in Q2 profit at Rs 235 crore, Ambuja Cement's net profit up 57% in March quarter, Ambuja Cements Q3 net profit up 34 pc at Rs 533 cr, Ambuja Cements gains after good Q1 result, Access Exclusive content - articles, features & opinion pieces, Weekly Industry/Genre specific newsletters - Choose multiple industries/genres, Access to 17 plus years of content archives, Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box, End of day news alerts on 5 companies (via email). As a premium subscriber you get an across device unfettered access to a range of services which include: Welcome to the premium services of Business Standard brought to you courtesy FIS. Healthy monsoon bodes well for rural housing demand which is a key segment for cement. AMBUJA CEMENT Income Statement Analysis. The stock hit a 52-week low of Rs 184.15 on 9 October 2019. Last Updated at December 24, 2020 11:04 IST. The result was announced after trading hours on Friday, 18 October 2019. document.write("");googletag.cmd.push(function(){googletag.defineOutOfPageSlot('/6516239/outofpage_1x1_desktop','div-gpt-ad-1490771277198-0').addService(googletag.pubads());googletag.pubads().enableSyncRendering();googletag.enableServices();}); Consolidated EBITDA soared 23.95% to Rs 999 crore in Q3 September 2019 over Rs 806 crore in Q3 September 2018. ACC rose 4.77% to Rs 1655 while Ambuja Cements jumped 6.24% to Rs 252.15. (Bloomberg) Ambuja Cements’ premium valuation is at risk in the wake of dismal results 2 min read. LafargeHolcim’s conviction on India’s cement sector augurs well for ACC-Ambuja combine 27.10.2020 Ambuja Cements Consolidated September 2020 Net Sales at Rs 6,169.47 crore, up 1.51% Y-o-Y Broking House Antique believes this announcement clears the … Ambuja Cement News, Ambuja Cement Latest News, Results, Updates and Analysis on NDTV Profit. AMBUJA CEMENTS : News, information and stories for AMBUJA CEMENTS | NSE India Stock Exchange: AMBUJACEM | NSE India Stock Exchange. Support quality journalism and subscribe to Business Standard. We, however, have a request. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. On a year-to-date (YTD) basis, the benchmark S&P BSE Sensex has added 13.43% while ACC and Ambuja Cements have gained 13.39% and 27.66%, respectively. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. Ambuja Cements was set up in 1986. Your support through more subscriptions can help us practise the journalism to which we are committed. An ET Now poll had expected the company to report a net profit of Rs 320 crore. Mumbai: Ambuja Cement on Friday reported a 10.03 per cent rise in its standalone net profit for the quarter ended June to Rs 453.37 crore, and managed to beat analysts’ expectations. Get more Markets News and Business News on Zee Business. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Powered by Capital Market - Live News Business Standard is happy to inform you of the launch of "Business Standard Premium Services". A key worry for cement companies has been the volume degrowth seen across categories due to the pandemic enforced lockdown. In the last decade the company has grown tenfold. Ambuja Cements Company News Article Ambuja Cements share /stock news, Company news and announcements, Ambuja Cements company latest article and updates, company results, business news on Moneycontrol. ACC and Ambuja Cement share prices: With renewal of the TKH with Holcim, the concern about a higher fee and an overhang on the stock price is likely to go away. The increase in profit has been due to the company’s cost reduction programs, and increased volume growth. This has been possible with a clear focus on product mix enrichment and reduction in logistics costs. ... AMBUJA CEMENTS LTD: Half-year results: CO. 2019: AMBUJA CEMENTS LTD: 1st quarter results: CO. 2019: AMBUJA CEMENTS LTD: Proxy Statments: CO. More most relevant news: India Business News: The stocks of the company were trading at Rs 72.05 up 2.44% or Rs 4.10 on April, 10:53 am on National Stock Exchange. The stock hit a 52-week high of Rs 244 on 1 April 2019. The Q3 PAT rose by 50.5% compared to Rs533.85cr profit recorded in … Ambuja Cements Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 49462.42 Crore) operating in Cement sector. Ambuja Cement Q4 result today; Here's what to expect Murtuza Arsiwalla and Abhishek Poddar of Kotak Institutional Equities in their report stated that Pan-India players (which also includes Ambuja Cement) are expected to report weaker prices, higher costs and lower volumes due to demonetisation which will result in sequential decline in their earnings. The Cement Manufacturers Association in India … Let us have a look at the detailed performance review of the company during FY18-19. The stock hit an intraday high of Rs 206 and an intraday low of Rs 192.65 so far during the day. Team Business Standard, Last Updated at December 24, 2020 11:04 IST, eClerx Services gains on acquring US-based firm, Lemon Tree Hotels Ltd leads losers in 'A' group, Valiant Organics Ltd leads losers in 'B' group, Volumes soar at Johnson Controls-Hitachi Air Condition. Kindly visit the Manage my subscription page to discover the benefits of this programme. ... Ambuja Cements Q4 result today, … Business Standard is happy to inform you of the launch of "Business Standard Premium Services". Ambuja Cements lost 5.71% to Rs 195.80 after consolidated net profit jumped 33.68% to Rs 385 crore on 1.36% rise in net sales to Rs 5,957 crore in Q3 September 2019 over Q3 September 2019. Both companies will jointly set up Waste Heat Recovery … Ambuja Cement on Friday posted a 10 per cent rise in standalone net profit at Rs 453.37 crore in the second quarter of calendar year 2020. said Bimlendra Jha, managing director and CEO. Stocks in news:Ambuja Cement presented better results than estimates अंबुजा सीमेंट ने पेश किए अनुमान से बेहतर नतीजे ACC in fact posted results that were significantly higher than analyst estimates and were operationally very strong. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. We believe in free, fair and credible journalism. Ambuja Cements' total expenses declined 34.92 per cent to Rs 3,845.41 crore, compared to Rs 5,909.22 crore. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. Shares of cement makers fell as the competition watchdog initiated an investigation against alleged anti-competitive behaviour. Operating income during the year rose 4.1% on a year-on-year (YoY) basis. These measures should support growth and hence boost cement demand. Related Views On News AMBUJA CEMENT Announces Quarterly Results (2QFY21); Net Profit Up 51.4% (Quarterly Result Update) Oct 26, 2020 | Updated on Oct 26, 2020. Ambuja Kawach for all your building needs Engineered with cutting edge technology – Ambuja Kawach is a specially formulated cement with high … Your support through more subscriptions can help us practise the journalism to which we are committed. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Premium products registered a growth of 17% year on year and the company maintained its progress on fossil fuel substitution with alternative fuels and renewable energy. The Competition Commission of India has initiated an investigation against ACC Ltd. and Ambuja Cements Ltd., the two companies said in their exchange filings.Both the Holcim group subsidiaries, however, said that they have acted in compliance with … On the BSE, 6.49 lakh shares were traded in the counter so far compared with average daily volumes of 1.43 lakh shares in the past two weeks. Support quality journalism and subscribe to Business Standard. Revenues decreased by 15% to US$127m from US$149m. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. The government, i.e your encouragement and constant feedback on how to improve our offering have only made our and... Rose 4.77 % to Rs 1655 while Ambuja Cements was 63.27 % as on September... Reduction in logistics costs impacts of the launch of `` Business Standard Services. 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