Business Standard, Financial Express , 24 Apr 2019
ACC has reported a 38.19 per
cent increase in its consolidated profit at Rs 346.02 crore for the first
quarter of 2019 (January – March) , on account of increase in sales volume. The consolidated
profit was 250.39 crore in the January-March quarter a year ago.
ACC’s cement sales volume was
up 5.63 per cent to 7.5 million tonne in the January-March quarter as against
7.1 million tonne.
During the first quarter of
2019, revenue from cement segment along with
ready mix concrete business have also shown an increase over the
The government’s continued
drive on infrastructure development as well as ‘Housing for All’ initiatives
are expected to energize the construction sector and stimulate cement demand.
The rupee on April 23, gained 5 paise
to close at 69.62 against the US dollar on some dollar selling by banks and
exporters. However, subdued equity market sentiment and a stronger dollar
against its key rival currencies limited the rupee’s gain.
among the top ten steel using countries, alone had a share of 835 mt of the
total world use of 1.712 billion tonnes of steel in 2018 and will continue to
make a reflective impact on the rate at which global steel demand will move.
steel use will be growing by over 7% first to 102.8 mt and then to 110.2 mt
during the years 2019 and 2020 respectively. India’s per capita steel
consumption of about 70 tonnes falls far short of the world average of208 kg.
Asia, excluding China will stay as the fastest growing region in the global
steel industry with expected 2019 growth at 6.5 per cent followed by a slightly
lower 6.4 per cent in 2020.
demand will get a boost if more steel is used in house building and
The infrastructure sector of
India saw one of the best times in many years. With the completion of as many
as 101 major projects, the period between the months of April and December 2018
has been one of the most productive for the infrastructure sector.
Solar Corporation of
India (SECI) and state agencies had started bid for wind energy projects in
early 2017. Since then, a large number
of such projects have been bid out.
But, out of the 500 mw
of wind capacity bid out by Tamil Nadu two years ago, only 50 mw has been
commissioned so far
The power purchase
agreement (PPA) was also signed in October 2017, which has an inbuilt time
extension of five months after project completion of 15 months, with penalty by
way of bank guarantee to an extent of Rs 10 lakh per mw
The winners have time
till June to complete the project, after which the bank guarantee will be
encashed proportionate to the period.