Latest news with #DalmiaBharatLtd
Time of India
13 hours ago
- Business
- Time of India
Dalmia Bharat, Birla Corp incentive demand worth Rs 430cr at risk after Bengal govt's policy churn
Two major companies, Dalmia Bharat Ltd and Birla Corporation , said that about Rs 430 crore in promised state incentives may now be at risk after the West Bengal government scrapped several industrial subsidy schemes in 2025. 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'. Dalmia Bharat operates a cement plant with a capacity of four million tonnes in Paschim Midnapore district. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like How Much Does It Cost to Rent a Private Jet - The Prices May Surprise You! Private Jet I Search Ads Learn More Undo Birla Corporation Ltd, another affected firm, disclosed that it was to receive Rs 55.66 crore in Industrial Promotion Assistance (IPA), already sanctioned by the West Bengal State Industrial Development Corporation (WBSIDC). Additionally, the company has an outstanding claim of Rs 138.58 crore. Both companies fear that these incentive dues may be jeopardised due to the implementation of the Revocation Act . Live Events "This legislation is likely to adversely affect the order of the Hon'ble Calcutta High Court," a Dalmia Bharat official said, adding that the company is evaluating all legal options to protect its rights. Officials of both companies said they are reviewing the legal validity and retrospective nature of the Act and are considering all avenues, including court challenges. The West Bengal government had said in March that it had revoked eight incentive schemes for heavy industries', launched during the 1993-2013 period, and would formulate a modern scheme to encourage the setting up of industrial units. An industry chamber official, declining to be quoted, said these are just two cases and more are expected to join the list. During a previous discussion on the Revocation of West Bengal Incentive Schemes and Obligations in the Nature of Grants and Incentives Bill, Chief Minister Mamata Banerjee had said the situation had changed significantly over the last 20-25 years and that some of the incentives introduced by the erstwhile Left Front government had become "irrelevant" and were being withdrawn. "Now, various works are being done on AI technology. Many new ideas and approaches have been added to the industry. Therefore, a new policy is being brought with the opinions of all concerned," Banerjee had said. A committee was also set up in this regard. PTI
Mint
15-05-2025
- Business
- Mint
Stock market today: 28 stocks hit 52-week lows, 92 stocks at 52-week highs as Sensex, Nifty 50 end over 1% higher
Stock market today: On Thursday, 92 stocks hit their 52-week high, including APL Apollo Tubes Ltd, Bharat Electronics Ltd, Dalmia Bharat Ltd, ICICI Bank Ltd, Max Financial Services Ltd, Shree Cement Ltd, and Solar Industries India Ltd. In contrast, 28 stocks touched 52-week lows, with notable mentions like Spectrum Electrical Industries Ltd, Ratnabhumi Developers Ltd, and Wendt (India) Ltd. Today, the Indian stock market ended on a high note, with the Nifty 50 surpassing the 25,000 milestone, gaining 1.6% (an increase of 395 points), while the Sensex rose by 1,200 points (1.48%) to finish at 82,530.74. This represented the highest point for the Nifty 50 in almost seven months. According to experts, the surge in the market was primarily fueled by optimism following US President Donald Trump's statement that India had proposed a deal to eliminate tariffs on US products, raising hopes for a potential zero-tariff trade agreement between the two nations. Vaibhav Vidwani, Research Analyst at Bonanza, said that declining crude oil and gold prices, substantial inflows from foreign institutional investors, a weakening US dollar, and easing inflation data bolstered expectations for potential rate cuts by the RBI, further driving upward momentum. The market capitalization increased by ₹ 5 lakh crore, indicating strong buying interest. 'The benchmark index outperformed the broader market, buoyed by growing optimism around reduced operational costs and a potentially more accommodative monetary policy stance. Investor attention is now turning to the upcoming speech by the Federal Reserve Chair, which is anticipated to provide further clarity on the future policy trajectory, particularly in light of the recent easing in US inflation data,' said Vinod Nair, Head of Research, Geojit Investments. According to Rupak De, Senior Technical Analyst at LKP Securities, the recent consolidation breakout, along with a move above the swing high, has increased the probability of the index reaching 25,690 in the short term. Immediate resistance is placed at 25,360, above which further upside potential may be unlocked. 'On the downside, 24,400 is expected to act as strong support in the short to medium term. A decisive break below this level could cause the ongoing rally to lose momentum. Until then, a buy-on-dips strategy is likely to remain effective,'said De.
Economic Times
14-05-2025
- Business
- Economic Times
Stock Radar: Dalmia Bharat sees profit taking after hitting 52-week high in May; time to buy or book profits?
Dalmia Bharat Ltd, a key player in the cement sector, had been consolidating in a range since September 2024. In May 2025, the stock broke out of this range, signaling renewed momentum, but faced mild profit booking at higher traders can look to buy the stock for a target of Rs 2,130-2,300 in the next 1-2 months, suggest cement stock rose more than 3% in a week, over 10% in a month and over 11% in the last 3 months.
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Business Standard
23-04-2025
- Business
- Business Standard
Dalmia Bharat Q4 results: Profit rises 37% to Rs 439 cr, revenue down 5%
Cement maker Dalmia Bharat Ltd on Wednesday reported a 37.18 per cent increase in its consolidated net profit to Rs 439 crore for the last quarter of 2024-25, helped by cost efficiency measures. The company had posted a net profit of Rs 320 crore in the January-March quarter a year ago, according to a regulatory filing. Its revenue from operations was down 5 per cent to Rs 4,091 crore during the quarter under review from Rs 4,307 crore in the year-ago quarter on account of decline in sales volume and softening prices. In the March quarter, Dalmia Bharat's sales volume increased 2.8 per cent to 8.6 million tonnes (MT). Commenting on the results, Chief Financial Officer Dharmender Tuteja said: "Our cement volumes declined by 3 per cent YoY in Q4, primarily due to the discontinuation of JP tolling volumes." "Revenue from operations declined by 5 per cent YoY to Rs 4,091 Cr, reflecting the continued softness in cement prices. However, our EBITDA grew by 21% YoY to Rs 793 crore during the quarter due to our continued focus on cost leadership through various initiatives including increase in renewable power capacity, he further said. Total expenses of Dalmia family-promoted cement firm were at Rs 3,717 crore, down 9.78 per cent in the March quarter. Total income of Dalmia Bharat, which includes other income, was also down 5.48 per cent to Rs 4,184 crore. For the financial year ended in March 31, 2025, Dalmia Bharat's net profit was down 18 per cent to Rs 699 crore. It was at Rs 853 crore in FY'24. Similarly, its total income in FY'25 was down 5.15 per cent to Rs 14,233 crore. The Board of Dalmia Bharat has recommended a final dividend of Rs 5 per share of face value of Rs 2 per share for FY2024-25 subject to approval of shareholders in ensuing AGM. Shares of Dalmia Bharat Ltd on Wednesday settled at Rs 1,893.50, down 0.47 per cent from previous close.
