News in brief from India’s cement industry

• Trinetra Cement reports turnover of Rs.146.48 crore in the April – June quarter, up from Rs.115.60 crore in the same quarter last year. Net profit also grew, at Rs.10.38 crore from a net loss of Rs.5.20 crore.
• Orient Cement Ltd has appointed Mr Rahul Deshmukh as Chief Operating Officer and Mr S.K.Pandey as Plant Head of Devapur. Mr. Sushil Gupta has been appointed the company’s Chief Financial Officer.
• India Ratings and Research has upped its gross domestic product growth forecast from 5.6% to 5.7%, reports moneycontrol.com. The adjusted forecast is made on the back of positive expectations for industrial recovery, which will make up for the impact of the below-average monsoon on agriculture. This is in line with our report earlier this week on core sector growth in India, which grew 7.3% in June.
• The Indian government has cancelled the auction of three coal blocs while it looks into issues related to earlier clearances. The previous government had originally invited applications for the coal blocs back in February.

Edited from various sources by Katherine Guenioui

Sources:

• MoneyControl
• EquityBulls
• EconomicTimes
• MoneyControl

Read the article online at: https://www.worldcement.com/asia-pacific-rim/08082014/news-in-brief-from-india-cement-industry-261/