Kesoram to set up cement packaging unit in AP
BK Birla Group outfit, Kesoram Industries, is setting up a 2,000-tonne per day packaging unit in Medak district of Andhra Pradesh at a cost of Rs 8 crore, according to a filing by the company to the stock exchanges. The proposed unit would cater to the packing needs of its cement manufacturing unit at Sedam in Karnataka. The diversified company's principal market for the cement is in the southern region. The company has reported a net loss of Rs 15.26 crore in the third quarter due to rise in rubber prices and contracted demand and prices of cement. Of the net sales, cement business contributed to Rs 405 crore, down by over Rs 20 crore from the same quarter last fiscal.