Ahmedabad-based firm to fund deal through equal amount of equity and debt.
From the Sensex firms, Axis Bank, Kotak Mahindra Bank, Maruti, UltraTech Cement, Bajaj Finance, ICICI Bank, Reliance Industries, Tata Steel, Bharti Airtel and HDFC Bank were among the major laggards. However, Trent, State Bank of India, Bharat Electronics, Titan and Bajaj Finserv were among the gainers.
The government on Tuesday announced changes in excise duty from specific to value based for cement priced above Rs 250 per bag of 50 kg, a move manufacturers say would increase the production cost.The industry, however, was non-committal on whether it would pass on the increased burden to consumers.
The output of eight key infrastructure sectors slowed down to 3.8 per cent in March, as against 6.3 per cent growth registered a year ago on account of moderate expansion in sectors like coal and crude oil, according to official data released on Monday. On a monthly basis, the growth rate in the production of these sectors was slightly higher than the 3.4 per cent expansion recorded in February.
Sector analysts opined that the northern, central and eastern markets were particularly hit
From the Sensex firms, HCL Tech, Tata Steel, Tech Mahindra, Reliance Industries, Bharat Electronics and ICICI Bank were among the laggards. Bajaj Finance, Hindustan Unilever, UltraTech Cement and Power Grid were among the gainers.
The statement from the industry came minutes after Finance Minister P Chidambaram said around noon that the government was trying to persuade cement companies to lower prices. On Thursday evening, India's largest cement manufacturer ACC, which accounts for over one-tenth of the market, had announced its intent to freeze prices for two-three months.
Intent-driven Shubman Gill shines on Day 1 in Birmingham
Royal Challengers Bengaluru's IPL 2025 title triumph has propelled the franchise's valuation to US$ 269 million, dethroning five-time champions Chennai Super Kings as the most valuable IPL franchise.
Reliance Jio, India's biggest telecom operator, is planning to launch an initial public offering (IPO) and listing on bourses in the first half of 2026, billionaire Mukesh Ambani said on Friday. Jio is currently a unit of Reliance Industries Ltd, India's most valuable company.
A clash of nerves, brilliance, and next-gen firepower-Alcaraz showed once again he's made for the biggest stages. As the tennis world erupted, legends led the tributes.
If the deal is successful, it would be the first such acquisition for the ADA Group.
Commodity market regulator Forward Markets Commission may not allow futures trading in cement.
Glenn McGrath said his prediction this time is based on how England were held to a 2-2 series draw by India in the recent Anderson-Tendulkar Trophy five-Test series.
The more things change, the more they remain the same for corporate India. In the April-June 2025 period (Q1FY26) - for the ninth consecutive quarter - listed companies witnessed only single-digit revenue growth, while their core earnings, excluding other income and one-time gains, contracted for the second time in four quarters. This comes as firms brace for the impact of 50 per cent US tariff on Indian goods.
Among 30 Sensex firms, UltraTech Cement, Tech Mahindra, HCL Tech, Tata Consultancy Services, Eternal, Asian Paints, Tata Steel and Kotak Mahindra Bank were among the biggest gainers. Tata Motors, Adani Ports and Sun Pharma were the laggards.
With cement companies refusing to cut prices, the government on Tuesday abolished all duties on import of portland cement
Players like UltraTech Cement more expensive than ITC and HUL; others catching up fast.
The output of eight key infrastructure sectors slowed down to a five-month low of 2.9 per cent in February, as against 7.1 per cent growth registered a year ago, according to official data released on Friday. On a monthly basis, the production growth of the core sectors was lower than the 5.1 per cent expansion recorded in January.
Growing confidence in the domestic cement market is expected to encourage multinational players in acquiring Indian companies during the next year, according to industry analysts.
From the Sensex firms, Bajaj Finance, Infosys, Hindustan Unilever, ICICI Bank, HCL Tech, UltraTech Cement, Bajaj Finserv, State Bank of India, Tata Consultancy Services, Reliance Industries, Axis Bank and Larsen & Toubro were among the major gainers. However, Trent, Tata Steel, Tech Mahindra and Maruti were among the laggards.
Despite outstanding performances in the IPL and on the international stage, several big names failed to make the cut.
The 24-year-old Jurel stepped in as keeper twice during the series - once after Pant took a blow to his finger in the third Test at Lord's, and again in the Manchester Test when Pant sustained a foot injury that ruled him out.
Life Insurance Corporation (LIC) , the country's largest domestic institutional investor (DII), has seen a Rs 46,000 crore erosion in the value of its equity holdings amid market downturns in July. The benchmark indices, Nifty 50 and BSE Sensex, have slipped 2.6 per cent from their June 2025-end level to 24,837 and 81,463.09 respectively.
The Supreme Court criticized the Punjab police for assaulting a Colonel over a parking dispute, highlighting the Army's service at the border and ordering a CBI probe.
Electric vehicle (EV) sales in India rose 28.60 per cent to 1,80,238 units in June over the period year-ago, driven by massive jump in e-passenger vehicle volumes, Federation of Automobile Dealers' Association (FADA) said in a statement on Tuesday. Electric passenger vehicle sales, as per FADA data, stood at 13,178 units in the previous month compared to 7,323 e-PVs in June 2024, registering a sharp increase of 79.95 per cent year-on-year.
Dalmiya Cement's vice president Puneet Dalmiya says that given the gap between the supply and demand situation the efficacy of any measure is doubtful.
Traders said the current demand is backed by government-funded projects which usually come up in the months before the election and the pace may slow down after the election, pushing the growth back to the previous levels.
Shree Cement beats ACC in market value, Lupin ahead of Dr Reddy's Labs
The chargesheet involving India Cements also named two senior serving IAS officers -- special chief secretary (environment and forests), M Samuel, and principal secretary of the irrigation department, Adityanath Das.
Trading sentiment in the stock market this week will be guided by quarterly earning announcements from blue-chips such as Infosys and Bajaj Finance, the outcome of India-US trade talks and global cues, analysts said. Markets may on Monday react to the quarterly results of three heavyweights - Reliance Industries, HDFC Bank and ICICI Bank, an expert said.
'If a player who is not being selected after scoring so many runs in the IPL, then there is some other reason for his non-inclusion.'
Geopolitical developments between India and Pakistan, quarterly earnings and macro data will be the key drivers of stock markets in the holiday-shortened week, say analysts.
The government on Friday asked the cement companies to initiate voluntary steps by May 15 to check spiralling cement prices and warned of an action in case of non-compliance.
In the domestic segment, demand is currently led by rural markets, oil and gas, LPG and B2C segments like roofing and sheeting.
From the Sensex firms, Adani Ports declined 2.42 per cent. Bajaj Finserv, Bajaj Finance, Power Grid, Eternal, IndusInd Bank, Maruti, Tata Consultancy Services and UltraTech Cement were among the biggest laggards. Mahindra & Mahindra emerged as the only gainer in the pack.
Like any other commodity, proximity to raw materials (limestone, coal, furnace oil and so on) and proximity to markets are key factors that determine profitability over the long-term for cement companies.
After prevailing upon steel producers to reduce prices, the government on Thursday got assurance from cement producers also that they would substantially cut prices voluntarily.The assurance from manufacturers came after government announced to take tough action against them, besides banning exports and allowing duty free import of cement.
The proposed 'Next Gen GST' with sweeping reforms, lower tax rates, and just two slabs, aims to boost the economy amid tariff threats and set the stage for a single tax rate regime by the time India becomes a developed nation, government sources said.
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