Indian cement makers are bullish on the demand environment amid increased government spending on infrastructure, rural development and expansion of the housing sector
Speaking to CNBC-TV18, Jaspreet Singh Arora, senior analyst - Cement & Construction - Institution Equity, Anand Rathi says apart from UltraTech‘s deal with Jaiprakash Associates for its cement unit, the cement major has good presence in ancillary business too.
Manoj Gaur, executive chairman of Jaiprakash Associates spoke to CNBC-TV18 about the business environment and the way ahead for the company.
Rain Commodities announced its Q3CY11 results and approved a buyback of Rs 1 crore fully paid up equity shares. Chief financial officer T Srinivasa Rao expects the profits to be upwards of Rs 100 crore each quarter. The company plans to list its CPC business by second half of FY12.
Century Textiles and Industries cement business is set to merge with Ultratech, reports Business Standard. It touched an intraday high of Rs 318.20 and an intraday low of Rs 306. At 09:26 hrs the share was quoting at Rs 315.80, up Rs 10.90, or 3.57%.
At a time when there is a possibility to see a cement price hike, Orient Papers & Industries is likely to go for a demerger of the cement business. The company has announced the demerged will be effective on April 1, 2012.
Orient Paper has slipped furtehr today. It touched an intraday high of Rs 62.20 and an intraday low of Rs 60.10. At 09:22 hrs the share was quoting at Rs 60.80, down Rs 1.15, or 1.86%.
Century Plyboards is exploring options of raising funds in its cement division, reports CNBC-TV18’s Nimesh Shah quoting sources.