Gujarat Ambuja Cements Ltd has posted a net profit of Rs 564.60 million for the quarter ended December 31, 2002 as compared to Rs 504.40 million for the quarter ended December 31, 2001.
In a move aimed at consolidating its Indian operations, Swiss cement major Holcim will increase its control in ACC and Gujarat Ambuja Cements for close to Rs 2,700 crore (Rs 27 billion).
Gujarat Ambuja Cements Ltd allotted 1400 shares on exercise of the stock options by the employees.
Gujarat Ambuja Cements Ltd's board will meet on January 29, 2003 to consider quarterly/ half-yearly unaudited financial results for the quarter/half year ended December 31, 2002.
Cement major Gujarat Ambuja Cements Ltd on Monday said Holderind Investments Ltd (Holcim Mauritius) has 14.8 per cent stake in the company.
Mutual funds predominantly bought engineering, media, pharma, and oil and gas stocks in July
Thirty stocks from various sectors form the Sensex.
With the acquisition of 14.8 per cent stake in Gujarat Ambuja Cements Ltd, by Swiss cement major Holcim, foreign players, including Lafarge, would be controlling nearly 25 per cent of total production in the country.
Narotam S Sekhsaria on Monday resigned as the managing director of Gujarat Ambuja Cements.
The deal price of Rs 138.65 a share is 32 per cent higher than the Rs 105 a share that Holcim paid in January.
Holcim Ltd, the world's second largest cement producer, has made a $800 million bid to acquire Associated Cement Company Ltd, India's largest cement manufacturer.
The board of directors of ING Vysya Bank, at its meeting held on May 28 have approved the bank's sale of 14.87 per cent stake in ING Vysya Life Insurance Company to Gujarat Ambuja Cements for Rs 60.9 crore (Rs 609 million).
Gujarat Ambuja Cement and Holcim on Thursday announced the completion of financial closure of Rs 3,540 crore (Rs 35.40 billion) for Ambuja Cement India.
Swiss cement maker Holcim, which had made an open offer to pick up 36.20 per cent shares of ACC, would also buy out the stakeholding of US-based AIG and GIC of Singapore in Ambuja Cement India Limited
Gujarat Ambuja Cements Ltd on Friday reported a 104 per cent rise in its consolidated net profit during the third quarter ended March 31, 2004 and announced an interim dividend of 50 per cent for the fiscal ended June 2004.
Gujarat Ambuja Cements has reported a 50 per cent surge in net profit to Rs 89.55 crore (Rs 895.5 million) for the second quarter ended December 31, 2004 as compared to Rs 59.54 crore (Rs 595.4 million) in the corresponding quarter of the last fiscal
Shares of cement companies rallied on Tuesday on hopes of improved quarterly results.
Nestle India has tied up with five cement manufacturing units.
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