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India Cements acquisition reports baseless; looking at organic growth: Shree Cement

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The market has been abuzz with reports of Shree Cement being in acquisition talks with India Cements. However, HM Bangur, MD at Shree Cement, denied this strongly in an interview to CNBC-TV18.

The market has been abuzz with reports of Shree Cement being in acquisition talks with India Cements. However, HM Bangur, MD at Shree Cement, denied this strongly in an interview to CNBC-TV18.
“There is no chance. We are not even looking at it, not even thinking about it, we don’t have any share and all these rumours are meaningless,” Bangur said.
Sector-specific, he sees good demand across India and expects to see a price correction. “The price margins will be more or less intact,” he said.
A Morgan Stanley report indicates that the cement sector saw strong double-digit volume growth in October and stable to marginal growth in November.
“Q3FY21 volume will be about 8-10 percent better than last year Q3,” Bangur weighed in.
Watch the video for the full interview

Market Movers

CompanyPriceChange%Loss
ONGC120.25 -4.85
Coal India146.40 -5.75
JSW Steel670.60 -25.75
NTPC113.55 -3.85
UPL808.00 -27.05
CompanyPriceChange%Loss
ONGC120.35 -4.65
NTPC113.55 -3.70
M&M784.85 -20.60
Power Grid Corp233.00 -6.70
Nestle17,678.30 -375.20
CompanyPriceChange%Loss
ONGC120.25 -4.85 -3.88
Coal India146.40 -5.75 -3.78
JSW Steel670.60 -25.75 -3.70
NTPC113.55 -3.85 -3.28
UPL808.00 -27.05 -3.24
CompanyPriceChange%Loss
ONGC120.35 -4.65 -3.72
NTPC113.55 -3.70 -3.16
M&M784.85 -20.60 -2.56
Power Grid Corp233.00 -6.70 -2.80
Nestle17,678.30 -375.20 -2.08

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Dollar-Rupee73.8600-0.2175-0.29
Euro-Rupee87.8770-0.4200-0.48
Pound-Rupee102.2970-0.9290-0.90
Rupee-100 Yen0.6699-0.0019-0.29