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Bucking historic trend, cement prices rise in Q3

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Dealers say there has been a sharp uptick in non-trade prices especially in the north as improving institutional demand for large infrastructure projects. A bunch of cement stocks have scaled fresh 52-week highs in this month. These include pan-India companies Ultratech Cement, Ambuja Cements and regional players JK Cements and The India Cements, among others. Latest dealers channel checks show sustained recovery in demand, which is aiding cement prices.

??ur channel checks suggest that demand has remained strong and prices this year have bucked the trend of weakness seen in the pre-festive season (Diwali) every year,??Motilal Oswal Securities report said on 24 November. In north, east and central India, cement volumes are growing over 10 per cent, said the report. ??n 3QFY21, average price is up 0.8 per cent quarter-on-quarter so far across India versus a decline of 1.1/0.7 per cent q-o-q seen in the past five-10 years. The same is up around 7 per cent year-on-year to Rs 360 per bag,” added the report. One cement bag weighs 50 kg.

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Concrete

New appointment at TMEIC

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TMEIC Industrial Systems India, a Group company of TMEIC Corporation, Japan, has announced the appointment of Hidekazu Matsushima as the new Managing Director. Matsushima has been associated with Mitsubishi Electric FA division for domestic market in Japan since 1991 and been assigned in Industrial division in 1994, where he rolled out his mission of sales, marketing and business development of General industry (GI) such as paper, film, Oil & Gas, petrochemical, cement, food, automobile, semiconductor industries in Japan. During the establishment of TMEIC in Japan in 2003, he was assigned with the responsibility for domestic GI market Sales in Japan HQ, and then in plant and energy sales department.

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Concrete

Social Impact Award for Ambuja Cements

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The West Bengal CSR unit of Ambuja Cements has won the 6th ICC Social Impact Award 2024 in the large industry category. It was recognised for its efforts in advancing ‘Gender Equality and Women Empowerment’. The CSR arm received a letter of appreciation from the Office of the Governor of West Bengal, further amplifying recognition of the organisation’s contributions to societal advancement. The initiatives undertaken by Ambuja Cements in West Bengal under the Women Empowerment programme harness the power of rural women as breadwinners, community leaders and change-makers. Encouraging women to form Self-Help Groups and Federations plays a key role in helping them achieve socio-economic empowerment.

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Concrete

UCWL unveils new plant in Dabok, Udaipur

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JK Lakshmi Cement, a subsidiary of Udaipur Cement Works Limited (UCWL), has inaugurated its state-of-the-art cement mill IV at their Dabok plant in Udaipur, Rajasthan. The new mill pushes the plant’s cement capacity from 2.2 million MT to 4.7 million MT, making it one of the key players in the industry. The new facility is expected to enhance efficiency, productivity and provide exceptional product quality owing to its cutting-edge technology equipment while incorporating innovative measures to minimise its environmental impact. The event shows UCWL’s stern commitment to excellence and its contribution to the region’s infrastructure sector.

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