Associated Cement Companies Ltd decided to divest a 19.56 per cent stake in Bridgestone ACC India Ltd.
The Asian Cricket Council (ACC) has called on the International Cricket Council (ICC) to give associate membership to Afghanistan which would elevate the war-torn country to the second tier of membership behind the 10 Test-playing nations.
Sri Lanka Cricket (SLC) made it clear during the ACC council meeting in Bali last week that it was not willing to take the financial burden as it did not earn extra and was also not the official host of the tournament.
Richard Thompson, have suggested that staging the Champions Trophy without powerhouse India is not an option and there are "contingencies available" if Rohit Sharma's team doesn't travel to host country Pakistan.
The government on Tuesday appointed C S Setty as chairman of the country's biggest lender State Bank of India (SBI) for a period of three years. Setty, currently senior most MD of the bank, will replace incumbent chairman Dinesh Kumar Khara on August 28.
Mohsin Naqvi stated that there are no concerns about BCCI secretary Jay Shah becoming the International Cricket Council (ICC) chairman.
There has been a sharp slowdown in revenue and profit growth in the cement sector in recent quarters but it is yet to show in the share prices of cement companies. On the contrary, there has been a rally in cement stocks and a re-rating of their equity valuation in the past three years despite an earnings contraction during the period.
Ultratech Cement's acquisition of a 23 per cent stake in Tamil Nadu-based India Cements is another instance of growing consolidation in the cement market in India. The deal will raise Ultratech's share, based on India Cements' revenues in FY24, in the domestic market by 230 basis points if the latter is formally acquired by the former in due course. India Cements' share was up 11.5 per cent on Thursday on market expectations of an open offer.
The commanders' conclave in a forward area in Sikkim, which is close to the Line of Actual Control, comes amid the lingering border row in eastern Ladakh.
The production linked incentive scheme (PLI) for automobile and auto components has so far attracted a proposed investment of Rs 67,690 crore, said Economic Survey 2023-24 tabled in Parliament on Monday. A capital of Rs 14,043 crore has been invested till end-March 2024, it stated. Applicants have proposed employment generation of 1.48 lakh, against which 28,884 of jobs have been generated till March 31, 2024, the Economic Surevy 2023-24 stated.
The ICC has approved a budget of approximately USD 70 million for holding the Champions Trophy in Pakistan early next year.
Too many thorny issues, parent Holcim will take up matter later.
The incident took place in the third over of the Nepal chase on Sunday when Tanzim had a verbal spat with Nepal skipper Rohit Paudel
The government on Thursday reappointed former IPS officer Ajit Doval as the National Security Adviser (NSA), according to an official order.
Featuring in the T20 World Cup for the third time, Oman on Wednesday named Aqib Ilyas as their skipper for the upcoming edition of the tournament, which will be held across June in the USA and West Indies.
Analysts see a buy opportunity as gap with peers is now at 37% compared to 13% historically.
The Asian Cricket Council rejected a complaint from Bangladesh that Pakistani pacer Aizaz Cheema deliberately blocked their batsman, Mahmudullah Riyad, in the last over during the tense chase in the Asia Cup final.
ACC, the country's largest cement maker that had temporarily idled a plant in Himachal Pradesh this month, said it has kept all options open on similar shutdowns at its other locations in case there is no satisfactory demand for its products.
The Asian Cricket Council (ACC) has urged India to go ahead with its tour of Pakistan next year, saying that canceling the series would be disastrous for the game in the sub-continent.
India head coach Gautam Gambhir, BCCI president Roger Binny and all-rounder Hardik Pandya led the long list of joyous members of the cricketing fraternity in lauding Jay Shah, who was on Tuesday elected unopposed as the ICC Chairman.
The BCCI, however, in a tersely worded reply to Asian Cricket Council (ACC) has made it clear that neither them, nor the broadcasters have any say in national team selection matters.
The Indian cement industry is hopeful of greener pastures after a long period of stress led by pricing pressures and other factors. The second half of FY25 is expected to bring respite due to price hikes, cost benefits and higher volumes, said analysts. The optimistic momentum also makes cement stocks attractive, analysts added, advising to buy dips following a period of bearish sentiment in these stocks.
New BCCI president Ranbir Singh Mahendra is busy with electioneering in Haryana.
England seamer Gus Atkinson has been named the ICC Men's Player of the Month for July 2024 after his heroics in the Test series against West Indies.
Asia Cup matches likely to be shifted out of Colombo after heavy rains
In view of the prevailing weather conditions, the ACC decided to add an exclusive reserve day for the Super 4 match between India and Pakistan.
UltraTech Cement's announcement that it would snap up a controlling stake in India Cements may only be a sign of more to come. In the wake of one of the country's most expensive deals in recent times, cement majors may slug it out to add smaller firms from the region to their portfolio. UltraTech's buy is the latest in the four deals the southern market has seen in less than a year, with Adani Cement being the other buyer.
Chamari Athapaththu and Harshitha Samarawickrama smashed half-centuries as Sri Lanka stunned India by eight wickets in the final.
Smashes six sixes in an over in T20I vs Qatar
The recent price correction in broader markets has hit cement companies hard. So far in the current month, smallcap firms like Visaka Industries, Andhra Cements NCL Industries, Sahyadri Industries, and KCP have lost 19.7 per cent, 14.3 per cent, 13.8 per cent, 13.5 per cent, and 11.5 per cent, respectively. On the contrary, largecap companies, while registering losses for the month, have seen a softer blow.
ACC president Jay Shah attributed the body's decision to host Asia Cup matches in Sri Lanka on teams' reluctance to play ODIs in the UAE heat.
Maruf set the tone for Bangladesh's success with a superb opening spell, reducing India to 13 for three inside seven overs.
The state's tax department had collected Rs 64 crore (Rs 640 million) from ACC, against which the company moved the Himachal Pradesh High Court.
The PCB will try to get more matches of the Asia Cup to be staged in Pakistan when the ACC board meets in Dubai on Sunday.
The BCCI chief was made the ACC president-designate after Dalmiya stepped down after the recent BCCI elections.
ACC's decision clears the way for Pakistan's participation in the subsequent 50-overs World Cup in India in October-November.
ACC, the country's largest cement maker, is setting up a wholly owned subsidiary to scale up its ready mix concrete business under a new chief executive officer.
The country's leading cement maker UltraTech on Thursday said it will acquire a 23 per cent stake in its Chennai-based rival India Cements Ltd, in a deal estimated to be around Rs 1,885 crore. As part of the transaction, UltraTech Cement will acquire 7.06 crores equity shares of India Cements at a price of up to Rs 267 per share, according to a regulatory filing from the Aditya Birla Group flagship firm.
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