Andhra Cements' lenders had last year received expressions of interest from Sagar Cements, B C Jindal's Jindal Poly Films, Dalmia Cement (Bharat) Ltd and Khandwala Finstock Pvt Ltd.
Lenders led by Edelweiss Asset Reconstruction Company Ltd received bids from NCL Industries Ltd and Sagar Cements Ltd to acquire the assets of Andhra Cements. Both were rejected because they fell below lenders’ expectations.
The cement sector has witnessed considerable action in the M&A and IPO segments in the last two years. The acquisition of the Emami Group’s assets by the Nirma group, papers for IPO being filed by Nirma Group’s cement arm Nuvoco Vistas and Penna Cements and the recent acquisition of AP based Bhavya Cement by Anjani Portland Cement, a subsidiary of Chettinad Cement Corporation. The Adani Group has also made a foray into the segment by incorporating a wholly-owned subsidiary, Adani Cement Industries.
SBI | Bank of Baroda | Coal India | Punjab National Bank | Idea Cellular | Hindalco Industries | Ballapur Industries | Suzlon Energy | InterGlobe Aviation | Max Ventures | Reliance Capital | Tata Communications | Siemens and Sun TV Network are stocks, which are in the news today.
In the past one month, the stock price of little-known Andhra Cements ran up close to 70 percent, even beating its larger peers by a margin. The rally could most likely have been sparked by market buzz that the Jaypee Group-promoted cement player has been put on the block.
Cement realisations have fallen to Rs 3,200 per tonne in Q4FY16 from Rs 4000 per tonne earlier, said Deepak Khetrapal, MD & CEO of Orient Cement
Here are a few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today. We have TVS Motor, Tata Motors, Hero MotoCorp, M&M, Sun Pharmaceutical, Aurobindo Pharma, BGR Energy, Andhra Cement, Sagar Cements, NCL Industries, Emmbi Industries.
Andhra Cement has reported a standalone total income from operations of Rs 90.22 crore and a net loss of Rs 22.93 crore for the quarter ended Dec '15
Here are a few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today. We have - Ess Dee Aluminium, Andhra Cement, GM Breweries, Sun Pharmaceutical, Mphasis, Lupin, L&T, Refex Industries, SPL Industries, Ind-Swift Labs, and Kerala Ayurveda.
JP Group had bought majority stake in Andhra Cement in 2011.
Andhra Cement has reported a standalone total income from operations of Rs 110.65 crore and a net loss of Rs 19.82 crore for the quarter ended Sep '15
Andhra Cement has reported a standalone total income from operations of Rs 126.48 crore and a net loss of Rs 14.66 crore for the quarter ended Jun '15
Andhra Cement has reported a standalone total income from operations of Rs 117.60 crore and a net loss of Rs 23.90 crore for the quarter ended Mar '15