UltraTech Cement clarifies it is not under investigation by the Competition Commission of India regarding ONGC tenders. However, its subsidiary, India Cements Limited, is a party to the case and is exploring legal options. India Cements is assessing its options after receiving an investigation report.
Competition Commission of India has instructed UltraTech, Dalmia Bharat Cements, and Shree Digvijay Cements to provide financial records. This follows an investigation that revealed breaches of competition regulations. The directive includes executives submitting financial details.
India's cement industry is set for robust growth in FY2026, with volumes expected to rise by 6-7%, reaching 480-485 million metric tonnes, driven by housing and infrastructure demand. Capacity additions are projected to increase significantly.
While speaking at a review meeting held with officials of the DHBVN and pollution control board on Tuesday regarding departmental works in the district, action on illegal activities, and strengthening of infrastructure, Singh said,
The ED, in a statement on Saturday, said this move is in continuation of its efforts to return properties to their rightful owners and enable financial institutions to monetise attached or seized assets.
The major environmental issue posed by these plants is fugitive dust emission during the loading or unloading of materials, and storing, transferring, and mixing them.
The cement volumes witnessed a "notable recovery of 10-11 per cent y-o-y" in the March 2025 quarter after recording a subdued 2 per cent growth in the first half of the last fiscal.
UltraTech Cement, the new promoter of India Cements, needs to reduce its stake by 7%, worth Rs 667 crore, to comply with SEBI's minimum public shareholding norms. They have until February 2026 to meet the 25% public ownership requirement through various methods.
The money will be raised by issuing compulsory convertible debentures (CCD) and compulsory convertible preference shares (CCPS) in Vadraj after the completion of the acquisition and will replace the bridge facilities taken to fund the deal, people familiar with the matter said.
Apart from polluting the environment the RMC trucks are often seen driving on the wrong side, day and night, on the Mumbai Ahmedabad national highway (NH48) without any fear from the Mira Bhayandar Vasai Virar (MBVV) cops or the Highway police.
An official of Dalmia Cement (Bharat) Ltd (DCBL), a wholly owned subsidiary of Dalmia Bharat, stated that it was supposed to receive Rs 236.32 crore along with 8 per cent interest under the now-revoked 'WB State Support for Industries Scheme 2013'.
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