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Dalmia Bharat is acquiring Jaiprakash Associates' cement business from Adani Group for ?2,850 crore. This deal adds 5.2 million tonnes of cement capacity. The company is also expanding existing facilities. By FY28, Dalmia Bharat's total production capacity will reach 66.7 million tonnes. The transaction is expected to complete soon. This acquisition strengthens Dalmia Bharat's position as a pan-India player. View More

Mumbai: Dalmia Bharat said on Friday it is acquiring the cement business of Jaiprakash Associates from the Adani Group for an enterprise value of ₹2,850 crore. The cement-maker will acquire 5.2 million tonnes of cement capacity and 3.3 million tonnes of clinker capacity based in Madhya Pradesh and Uttar Pradesh, adding to its 49.5-million tonnes production capacity as the fourth-largest producer of cement in the country. Also Read: Adani Power inks deals to buy Jaiprakash Power stake, Churk assets for over Rs 4,193 crore total The company is also in the midst of capacity expansion at Belgaum, Pune and Kadapa, and along with the acquired units at Rewa, Churk, Chunar and Sadwa, will have a total production capacity of 66.7 million tonnes by the December quarter of FY28. As a part of the deal, Dalmia Bharat will also get 99 MW of thermal power capacity, railway siding at Rewa and Chunar, along with a common railway siding at Churk. Live Events The transaction is likely to be completed within two weeks. "This serves as a great strategic fit for Dalmia," Puneet Dalmia, managing director of Dalmia Bharat said. "It helps us move forward in our journey to be a pan-India player and provide a strong head start to serve the high potential markets in central region. I am optimistic that the expansion potential of these assets, along with close proximity with Dalmia's captive mines, will help us create a capacity hub for the future." In 2022, Dalmia Bharat was in an agreement with Jaiprakash Associates for its cement assets, but Jaiprakash Associates was admitted to insolvency before the deal could be completed. After the Adani Group won Jaiprakash Associates under the insolvency route, Dalmia Bharat executed a fresh business transfer agreement for the cement business. "Considering newer markets, relatively better prices and Dalmia's proven cost leadership, these assets would augment Ebitda delivery and enhance overall returns for the company," the company said in a statement. The Adani Group-one of the largest infrastructure-focused conglomerates in the country-has a cement business of its own. Also Read: Adani Ports to acquire indirect control of Kanpur Fertilizers for Rs 1,500 crore under Jaiprakash Associates resolution plan Adani Cement, which is the second-largest producer of cement in the country, recently toned down its growth ambitions and said it will instead focus on ramping up utilisation and rationalising its existing capacities, while calibrating its capital expenditure. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

With this acquisition, Dalmia Bharat’s total cement capacity will increase from 49.5 MTPA to 54.7 MTPA View More

On May 22, markets showed mixed results with the Nifty 50 gaining 0.40% and Sensex rising 0.36%. While Nifty Private Bank and Nifty Metal saw gains, Nifty Media and Nifty Pharma lagged. The Indian rupee strengthened to 95.9 per dollar amid RBI interventions. View More

Most traded stocks today: Vodafone Idea, JSW Cement, Ola Electric Mobility, Central Bank of India, Tata Silver Exchange Traded Fund, Tata Gold Exchange Traded Fund, Jaiprakash Power Ventures (JP Power),  and YES Bank were among the most traded stocks on the NSE. View More

The acquisition of cement assets of bankrupt Jaiprakash Associates will help Dalmia Bharat deepen its presence in central India and increase cement capacity by nearly 10%, or 5.2 mtpa. View More

Q4 Results Today Live Updates: Stay tuned to Businessline for the latest live updates on Q4 earnings. View More

Revenue from ?operations rose 11% to ?1895 crore; Shares rose as much as 9.3% after ?results before trimming some gains to trade 5% ?higher View More

Companies across aviation, retail, and manufacturing are implementing price hikes and cost-cutting measures. Disruptions to supply chains and rising raw material expenses are impacting profitability, prompting strategic reviews and increased financial provisions. View More

A growing list of companies in Southeast Asia are sounding the warning bell over rising energy costs and weakening consumer demand as the conflict in the Middle East drags into its third month. Earnings downgrades have been steepest in the Philippines and Thailand, according to Bloomberg Intelligence analyst Sufianti. Inflation surged to a three-year high in the Philippines, which imports nearly all of its fuel from the Middle East, while Thailand’s economy relies heavily on tourism. Indonesia and Malaysia have fared better, backed by stronger commodity prices that have helped offset rising energy costs. Companies in Singapore and Vietnam, meanwhile, are faced with rising logistical costs as supply routes are disrupted. Here’s a roundup, based on statements made around earnings, of how Southeast Asian companies are responding. Aviation and Tourism The aviation industry is among the hardest hit as more expensive tickets disrupt travel demand. Live Events AirAsia X Bhd., Singapore Airlines Ltd. and Thai Airways International Pcl have all responded to rising jet fuel costs with fare hikes, fuel surcharges, route cuts and tighter spending controls, while Vietnam Airlines JSC said it activated contingency plans to continue to operate amid the disruption. Airports of Thailand Pcl said higher ticket prices and cancellations have started to hurt traffic, prompting the state-controlled airport operator to offer incentives and discounts. Consumer, Food and Retail Rising fuel and freight costs have eroded household purchasing power. Fried chicken chain Jollibee Foods Corp. reported a 39% profit drop due to higher commodity and supply-chain expenses, prompting a review of its expansion plans. Charoen Pokphand Foods Pcl of Thailand warned that transport and raw material prices could continue climbing as freight disruptions affect animal feed supplies. Casino operator Genting Singapore Ltd. flagged softer travel demand and weaker consumer sentiment as airfares and living costs rise, while Globe Telecom Inc. expects household budgets to be pressured by rising costs. Energy and Petrochemicals Industrial and petrochemical companies are grappling with supply disruptions as tensions around the Strait of Hormuz threaten the flow of key raw materials. Thai energy giant PTT Pcl warned of higher financing and procurement costs tied to crude purchases. It has secured additional oil supplies from outside conflict zones. Siam Cement Pcl suspended part of its chemicals operations because of feedstock shortages. Companies in the sector are seeking alternative suppliers and building inventories as shipping disruptions continue to ripple through supply chains. Health and Financial Services Health care and financial firms have now started to feel the crisis’ secondary effects. Bangkok Dusit Medical Services Pcl said travel disruptions have cut the number of Middle Eastern patients seeking treatment in Thailand, and warned higher living costs could lead consumers to delay non-essential procedures. In Malaysia, the world’s biggest condom maker Karex Bhd., which supplies brands including Durex and Trojan, is raising prices by as much as 30% as the conflict disrupts supplies of oil-based chemicals. Glove giant Top Glove Corp. Bhd. has also increased prices amid shortages of materials used to make nitrile gloves. Thai bank SCB X Pcl and Philippines’ largest, BDO Unibank Inc, have increased loan-loss provisions as Southeast Asian lenders prepare for borrowers defaulting amid rising risks tied to slower growth and softer consumer demand. Tires Surging oil prices and shipping disruptions are pushing up tire production costs, threatening to ripple across freight transport, delivery fleets, buses and farm equipment. The pressure is especially severe in Southeast Asia, a major manufacturing hub supplying markets across North America, Europe and Asia. The industry’s biggest manufacturers are already warning of rising financial strain. Michelin said a prolonged Middle East conflict could add more than €400 million ($465 million) in raw material, energy and logistics expenses, while Dunlop and Falken maker Sumitomo Rubber Industries Ltd. said higher input costs were hurting profits and prompting price increases in some markets. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now!

Economists expect this trend to lift overall industrial production, though geopolitical disruptions and uneven sectoral performance continue to weigh on the broader outlook. View More

The ongoing West Asia conflict has raised global crude oil prices, increasing costs of key inputs such as petcoke, diesel and polypropylene for cement companies, which is likely to weigh on their operating profitability: ICRA View More