Ambuja Cements (ACEM) board of directors has approved renewal of the technical and know-how (TKH) agreement with parent Holcim Technology (HTL) on same terms as the current agreement. These measures should support growth and hence boost cement demand. Copyrights © 2020 Business Standard Private Ltd. All rights reserved. As a premium subscriber you get an across device unfettered access to a range of services which include: Welcome to the premium services of Business Standard brought to you courtesy FIS. Powered by Capital Market - Live News The above factors along with higher spends in infrastructure and affordable housing are also expected to favor demand. Shares of ACC and Ambuja Cements were up 4% to 5% after the companies announced the renewal of technical know-how fees (TKH) to parent at 1% of net sales for the next two years. Let us have a look at the detailed performance review of the company during FY18-19. The cement maker had reported a net profit of Rs 412.05 crore in the same quarter a year ago. Ambuja Cements was set up in 1986. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. The stock hit a 52-week high of Rs 244 on 1 April 2019. Ambuja Kawach for all your building needs Engineered with cutting edge technology – Ambuja Kawach is a specially formulated cement with high … Get latest Ambuja Cements News/Updates and Results/Analysis. This has been possible with a clear focus on product mix enrichment and reduction in logistics costs. Digital Editor. Ambuja’s greenfield plant in Rajasthan with clinker and cement capacity of 3 million tonnes and 1.8 million tonnes is scheduled for commissioning by June-2021. Support quality journalism and subscribe to Business Standard. Antitrust body, the Competition Commission of India (CCI), on Wednesday raided the offices of top cement manufacturing companies, including UltraTech Cement, Shree Cement, Ambuja Cement, ACC, Dalmia Cement, and Rockstrong Cement, over allegations of price coordination and collaborating levels of cement supply, The Indian Express has learnt. New Delhi: Ambuja Cements and ACC, both owned by Swiss group LafargeHolcim, on Thursday said they will make investments worth over Rs 780 crore at their plants to reduce carbon dioxide emissions.The companies would be investing in green power generation that will help reduce the carbon footprint, according to a joint statement. Ambuja Cements Company News Article Ambuja Cements share /stock news, Company news and announcements, Ambuja Cements company latest article and updates, company results, business news on Moneycontrol. ACC and Ambuja Cement share prices: With renewal of the TKH with Holcim, the concern about a higher fee and an overhang on the stock price is likely to go away. Cement major Ambuja is in focus ahead of it’s earnings as peer companies so far have managed to post operationally strong numbers. The company sold 9.95Mt of cement over the period, down by 18% from 12.2Mt. The stock hit an intraday high of Rs 206 and an intraday low of Rs 192.65 so far during the day. Ambuja Cements' total expenses declined 34.92 per cent to Rs 3,845.41 crore, compared to Rs 5,909.22 crore. Kindly visit the Manage my subscription page to discover the benefits of this programme. The total cement capacity of the company is 18.5 million tones. India Business News: The stocks of the company were trading at Rs 72.05 up 2.44% or Rs 4.10 on April, 10:53 am on National Stock Exchange. Broking House Antique believes this announcement clears the … Meanwhile, the S&P BSE Sensex rose 395.42 points or 0.85% to 46,839.60. ACC in fact posted results that were significantly higher than analyst estimates and were operationally very strong. "In the backdrop of general slowdown in economy and subdued construction activity, Ambuja has delivered yet another quarter of good EBITDA and PAT growth despite lower volumes. In the … Copyrights © 2020 Business Standard Private Ltd. All rights reserved. The firm operates through cement and cement related products segment. (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed. Enjoy Reading! document.write("");googletag.cmd.push(function(){googletag.defineOutOfPageSlot('/6516239/outofpage_1x1_desktop','div-gpt-ad-1490771277198-0').addService(googletag.pubads());googletag.pubads().enableSyncRendering();googletag.enableServices();}); Consolidated EBITDA soared 23.95% to Rs 999 crore in Q3 September 2019 over Rs 806 crore in Q3 September 2018. India Ltd counter, SSWL bags new export orders from US, Europe, Bharat Petroleum Corporation Ltd rises around 1%, Tata Power Company Ltd spurts 1.35%, up for third straight session, Indian Oil Corporation Ltd up for third straight session, Ambuja Cements reports 31 pc jump in Q2 profit at Rs 235 crore, Ambuja Cement's net profit up 57% in March quarter, Ambuja Cements Q3 net profit up 34 pc at Rs 533 cr, Ambuja Cements gains after good Q1 result, Access Exclusive content - articles, features & opinion pieces, Weekly Industry/Genre specific newsletters - Choose multiple industries/genres, Access to 17 plus years of content archives, Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box, End of day news alerts on 5 companies (via email). Business Finance, Capital Market  In the last decade the company has grown tenfold. I am also happy to report significant progress at our greenfield project site in Marwar Mundwa." The Q3 PAT rose by 50.5% compared to Rs533.85cr profit recorded in … Ambuja Cement Q4 result today; Here's what to expect Murtuza Arsiwalla and Abhishek Poddar of Kotak Institutional Equities in their report stated that Pan-India players (which also includes Ambuja Cement) are expected to report weaker prices, higher costs and lower volumes due to demonetisation which will result in sequential decline in their earnings. Managing director and chief executive officer (CEO) Neeraj Akhoury said, “Volumes were impacted during the … Business Standard is happy to inform you of the launch of "Business Standard Premium Services". January 01, 2021.The agreement is renewed on the same terms and conditions as exists in the current ongoing agreement which expires in December 2020. Capital Market  Ambuja Cements lost 5.71% to Rs 195.80 after consolidated net profit jumped 33.68% to Rs 385 crore on 1.36% rise in net sales to Rs 5,957 crore in Q3 September 2019 over Q3 September 2019. AMBUJA CEMENTS : News, information and stories for AMBUJA CEMENTS | NSE India Stock Exchange: AMBUJACEM | NSE India Stock Exchange. Ambuja Cements Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 49462.42 Crore) operating in Cement sector. Business Standard is happy to inform you of the launch of "Business Standard Premium Services". Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. The consolidated result of Ambuja Cements also includes the financial performance of … We believe in free, fair and credible journalism. ... AMBUJA CEMENTS LTD: Half-year results: CO. 2019: AMBUJA CEMENTS LTD: 1st quarter results: CO. 2019: AMBUJA CEMENTS LTD: Proxy Statments: CO. More most relevant news: Get more Markets News and Business News on Zee Business. Enjoy Reading! Digital Editor. Last Updated at October 22, 2019 17:04 IST. HTL held 4.48% stake in ACC while its stake in Ambuja Cements was 63.27% as on 30 September 2020. Your support through more subscriptions can help us practise the journalism to which we are committed. On a year-to-date (YTD) basis, the benchmark S&P BSE Sensex has added 13.43% while ACC and Ambuja Cements have gained 13.39% and 27.66%, respectively. Mumbai-based Ambuja Cement registered a consolidated net profit of Rs 803.5cr during the quarter ending September 2020. Print India: Ambuja Cement’s profit in the first nine months of 2020 was US$176m, up by 21% year-on-year from US$146m in the first nine months of 2019. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. Ambuja Cement is set to announce its quarterly financial performance anytime on Monday. We, however, have a request. The result was announced after trading hours on Friday, 18 October 2019. India: Ambuja Cement’s net profit in the first half of 2020 was US$22.1m, up by 1.5% year-on-year from US$21.7m in the first half of 2019. On a year-to-date (YTD) basis, the benchmark S&P BSE Sensex has added 13.43% while ACC and Ambuja Cements have gained 13.39% and 27.66%, respectively. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Mumbai: In a board meeting yesterday, ACC/Ambuja announced renewal of Technical Know-how fees (TKH) to parent at 1% of net sales for next 2 years, w.e.f. An ET Now poll had expected the company to report a net profit of Rs 320 crore. ACC rose 4.77% to Rs 1655 while Ambuja Cements jumped 6.24% to Rs 252.15. sharp cut in corporate tax, aggressive divestment plan coupled with the Reserve Bank of India's latest interest rate cuts, ought to augur well for the economy. 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