ACC

** Axis Capital says Q1 was a muted quarter for Indian cement sector due to cost inflation in the wake of the Middle East crisis

** Cuts margin and earnings estimates for FY27-28 for most companies under its coverage

** "Cost inflation is expected to remain elevated even in H2 FY27 as West Asia conflict gets drawn out" - Axis Capital

** Brokerage says capacity addition pipeline over the next 18 months remains elevated with majority coming from industry leaders like UltraTech Cement ULTC.NS, Dalmia Bharat DALB.NS, Ambuja Cements ABUJ.NS and JK Lakshmi Cement JKLC.NS

** Says pricing gains are likely to be capped, given the significant capacity addition pipeline over the next 18 months

** Shares of ULTC down 0.4%, DALB down 0.2%, ABUJ down 0.1% and JKLC down 0.2%

** Shree Cement SHCM.NS up 0.6%, ACC ACC.NS up 0.1%, Ramco Cements TRCE.NS down 0.4%

** YTD, Nifty Cement Index .NIFTYCEMENT down 0.9% vs 7.1%fall in benchmark Nifty 50 Index .NSEI

(Reporting by Abhinav Parmar in Bengaluru)

(([email protected];))

Aug 5 (Reuters) - ACC Ltd ACC.NS:

• ACC LTD - GOT SEBI'S ADMINISTRATIVE WARNING LETTER

• ACC - WARNING PERTAINS TO ALLEGED FAILURE TO CAPTURE INFORMATION OF INSIDERS HAVING UNPUBLISHED PRICE SENSITIVE INFORMATION

Further company coverage: ACC.NS

(([email protected];))

July 24 (Reuters) - Adani Group-owned cement maker ACC ACC.NS reported a decline in first-quarter revenue and profit on Friday, with rising fuel and logistics costs more than eroding gains from a modest increase in cement sales volumes, underscoring margin pressure across the industry.

Here are some more details:

• Net profit after tax fell 61.6% in the quarter ended June 30 to 1.48 billion rupees, while revenue dropped 8.1%.

• Sales volumes stood at 10 million tonnes.

• Cement demand is expected to remain soft at about 5% for FY27, the company said.

• CEO Vinod Bahety says profit was hurt by maintenance shutdowns at key plants and higher service-related charges paid to parent Ambuja Cements.

• Rising costs of key raw materials like petcoke, coal and diesel hurt margins for cement makers, a headwind for the entire sector.

• Investors are closely watching for progress on cost and operational synergies between ACC and Ambuja Cements ABUJ.NS as the Adani Group aims to expand its market share.

• On Monday, India's largest cement maker and peer UltraTech Cement ULTC.NS reported a near 17% rise in first-quarter profit and unveiled plans to increase capacity addition in fiscal 2028.

(Reporting by Urvi Dugar and Abhinav Parmar in Bengaluru; Editing by Subhranshu Sahu and Nivedita Bhattacharjee)

(([email protected]; +91 9558725583;))

** Indian cement firms expected to see high costs, margin pressures on Iran war impact, analysts say

** Nifty Cement .NIFTYCEMENT index down 0.5% on-day

COSTS OUTPACE PRICING GAINS

** Phillip Capital sees cement industry volume growth at around 7%, projecting that realisations will improve by 3% to 4% QoQ

** Expects 4%-5% hike in operational expenses per tonne on war-related impact; EBITDA per tonne to decline 50-70 rupees

** Elara Capital says price hikes should offset fuel costs, keeping EBITDA/tonne broadly stable

** Peak fuel inflation to hit Q2 earnings during seasonal demand lull; South India-based firms such as Ramco Cements TRCE.NS face steeper declines - brokerage

** Jefferies says cos to post ~5% YoY decline in Q1 EBITDA as price hikes lag cost increases

** Nomura expects 6% to 7% organic Q1 volume growth sector-wide

** Says escalated fuel and packaging cost to more than offset any benefit of cement price improvement

(Reporting by Mridula Kumar in Bengaluru)

(([email protected];))

** HSBC Global Investment Research sees cost inflation concerns easing for India's cement firms; remains positive on the sector

** After the sharp fall in crude and PP (polypropylene) bag prices, HSBC expects packaging costs to decline from Q1 levels

** Says some energy cost inflation may persist in Q2, depending on pet coke booking timelines; overall, much of H1 FY27 cost pressure could reverse in H2

** Industry demand has broadly been stable in Q1 with cement price increases in April broadly covering the variable cost increase in the quarter - HSBC

** "While an energy price decline has broadly put to rest worries on earnings downgrades, for an earnings upgrade cycle, we need to see cement price hikes, which in our view requires industry discipline," - brokerage

** Shares of UltraTech Cement ULTC.NS down 0.1%, Ambuja cement ABUJ.NS down 0.4%, Shree Cement SHCM.NS rise 1.1%

** JK Lakshmi Cement JKLC.NS up 0.5%, ACC ACC.NS down 0.1%

(Reporting by Abhinav Parmar in Bengaluru)

(([email protected];))

** India's cement stocks rise as oil prices hit three-month low

** Oil prices fell after U.S. and Iran said ‌they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz O/R

** Brent crude futures fell 4.2% to $83.68 a barrel

** Higher crude prices raise fuel, freight, and energy costs, squeezing margins and increasing overall operating costs for cement manufacturers

** UltraTech Cement ULTC.NS up 3.6%, Ambuja cement ABUJ.NS up 2%, Shree Cement SHCM.NS rise 3%

** JK Lakshmi Cement JKLC.NS up 1.9%, ACC ACC.NS rises 1.8%

** Nifty 50 Index .NSEI rises 1.2%

** YTD, ULTC down 2.5%, AMBUJ 22.5% lower; SHCM, JKLC, ACC down 6.3%, 23%, and 22%, respectively

(Reporting by Abhinav Parmar in Bengaluru)

(([email protected];))

May 15 (Reuters) - Shares of India's Adani group companies rose between 0.5% and 3.5% on Friday, after media reports that the U.S. Justice Department was close to dropping criminal fraud charges against billionaire Gautam Adani.

Adani on Thursday also resolved a related civil fraud lawsuit brought by the U.S. Securities and Exchange Commission, over an alleged scheme to bribe Indian government officials, subject to court approval.

Shares of the group's flagship, Adani Enterprises ADEL.NS, rose as much as 3.2% in pre-open trade but came off to trade 1.6% higher at 2,756 rupees.

(Reporting by Surbhi Misra in Bengaluru; Editing by Mrigank Dhaniwala)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

April 30 (Reuters) - ACC Ltd ACC.NS:

• ACC Q4 PAT 2.49 BILLION RUPEES

• ACC Q4 REVENUE FROM OPERATIONS 70.54 BILLION RUPEES

• ACC LTD - DIVIDEND 7.5 RUPEES PER SHARE

Further company coverage: ACC.NS

(([email protected];))

** Nomura cuts PT on UltraTech Cement ULTC.NS to 13,900 rupees, UltraTech Cement, Ambuja Cement ABUJ.NS to 540 rupees, Shree Cement SHCM.NS to 28,000 rupees, Nuvoco NUVO.NS to 400 rupees

** Maintains Dalmia Bharat DALB.NS as its top pick with "Buy"

** Maintains "Reduce" on ACC ACC.NS; cuts PT at 1,250 rupees

** The industry has seen only a 16 rupees per bag hike in prices instead of the expected 18 rupees-20 rupees per bag to offset rising input costs, brokerage says

** Notes Indian cement industry has faced headwinds from election delays, extended monsoon, and Middle East-driven input cost inflation in the past few quarters

** Cuts FY27 and FY28 EBITDA estimates across cement stocks by an average of 10% to 15%

** Views cement demand as largely deferred rather than lost, believes improved profitability in FY28-29F as demand normalises and pricing discipline potentially returns

(Reporting by Mridula Kumar in Bengaluru)

(([email protected];))

** Higher energy prices linked to Middle East war pose earnings risk for Indian cement makers, as cost shocks are historically difficult to pass through, brokerage Jefferies says

** Estimates cost inflation of about 300 rupees ($3.21) per ton over Q4FY26 and Q2FY27, driving 4-9% EBITDA cuts for FY27-28

** Adds, Ambuja Cement ABUJ.NS faces sharpest cuts amid slower cost turnaround

** Cement stocks up on the day on broader market optimism around US-Iran talks; Nifty 50 .NSEI up 1.5%

** UltraTech Cement ULTC.NS, ABUJ, Shree Cement SHCM.NS rise between 2.5% and 3.1%, JK Lakshmi Cement JKLC.NS up 0.3%

** YTD, ULTC up 0.2%; AMBUJ, SHCM and JKLC decline 18.2%, 5.9% and 17%, respectively

($1 = 93.3750 Indian rupees)

(Reporting by Abhinav Parmar in Bengaluru)

(([email protected];))

April 1 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• AAHL, BLINKIT LAUNCH INDIA’S FIRST IN-TERMINAL QUICK COMMERCE SERVICE AT MUMBAI AIRPORT- STATEMENT

Source text: [ID:]

Further company coverage: ABUJ.NS

(([email protected];))

** Shares of India's Adani group rise between 1.2% and 2.7%

** Adani Enterprises ADEL.NS and Adani Ports APSE.NS rise 2.7% and 2.2%, respectively

** The two among top three gainers on benchmark Nifty 50 .NSEI, which is up 0.2%

** Adani Green ADNA.NS up 1.8%, Adani Energy ADAI.NS gains 2.6% and Adani Power ADAN.NS rises 1%

** ADEL says the group will invest $100 billion to build renewable energy-powered AI-ready data centres by 2035

(Reporting by Brijesh Patel in Bengaluru)

(([email protected]; Ph no. +91 9590227221;))

Jan 28 (Reuters) - ACC Ltd ACC.NS:

• Q3 PAT 5.41 BILLION RUPEES

• Q3 REVENUE FROM OPERATIONS 63.67 BILLION RUPEES

Source text: [ID:]

Further company coverage: ACC.NS

(([email protected];;))

Dec 31 (Reuters) - ACC Ltd ACC.NS:

• GETS TAX DEMAND AGGREGATING TO 2.04 BILLION RUPEES

Source text: ID:nBSE1DwHf5

Further company coverage: ACC.NS

(([email protected];))

Nov 28 (Reuters) - ACC Ltd ACC.NS:

• LIC INCREASES STAKE IN ACC BY 2.014% TO 10.596% - EXCHANGE FILING

Source text: ID:nBSEcgQgcx

Further company coverage: ACC.NS

(([email protected];;))

** Shares of Indian cement maker ACC ACC.NS rise 1.63% to 1,890.50 rupees as quarterly profit surges

** PAT more than triples, rev from ops up 28.2%

** Stock rated as "Buy" on average by 35 analysts; median PT at 2,100 rupees as per data compiled by LSEG

** Day's gains trims YTD losses to 7.89%

(Reporting by Mridula Kumar)

(([email protected]))

Oct 2 (Reuters) - ACC Ltd ACC.NS:

• ACC LTD - COMPANY RECEIVES TAX ORDER

• ACC LTD - GETS TAX PENALTY OF 88.6 MILLION RUPEES

Source text: ID:nBSE9DCgHr

Further company coverage: ACC.NS

(([email protected];))

Sept 19 (Reuters) - Adani Group stocks gained between 1% and 9.6% on Friday, a day after India's markets regulator dismissed short-seller Hindenburg Research's allegations of stock manipulation against billionaire Gautam Adani and his group.

Adani Power ADAN.NS led gains among the nine entities with its 9.6% climb. Adani Enterprises ADEL.NS, the flagship firm, rose 4.4%.

(Reporting by Anuran Sadhu and Kashish Tandon in Bengaluru; Editing by Harikrishnan Nair)

(([email protected]; +91 8697274436;))

Updates shares in paragraph 2, adds new quotes

Sept 4 (Reuters) - India late on Wednesday announced tax cuts on hundreds of consumer items ranging from soaps to small cars to spur domestic demand, and simplified its complicated goods and services tax structure to two rate slabs from four, with some exceptions for luxury and "sin" goods.

The benchmark BSE Sensex .BSESN and Nifty 50 .NSEI rose as much 1.1% on Thursday. By 11:55 IST, they pared some gains and were up about 0.5% each.

Here is how the industry has reacted so far:

ANISH SHAH, GROUP CEO & MD, MAHINDRA GROUP

"The next-generation GST reforms... mark a defining moment in India's journey towards building a simpler, fairer, and more inclusive tax system.

"At Mahindra, we view these reforms as transformative. They simplify compliance, expand affordability, and energise consumption, while enabling industry to invest with greater confidence."

SAURABH AGARWAL, PARTNER & AUTOMOTIVE TAX LEADER, EY INDIA

"The rationalization of GST rates on automotive vehicles and parts is a truly welcome and significant development. By making vehicles more affordable across all segments, this move will not only boost consumer spending but also simplify complex classification disputes that have long burdened the industry."

SAMIR SHAH, EXECUTIVE DIRECTOR & CFO, HDFC ERGO GENERAL INSURANCE COMPANY

"The GST Council decision to exempt individual health insurance from GST is a welcome development. This move aligns perfectly with the broader ambition of the regulator of 'Insurance for All by 2047,' providing a tangible step forward in that direction.

"While it is anticipated that there will be lowering of the premiums due to lowering of the taxes, we are yet to understand the extent of this reduction as this will also depend upon availability of the input tax credit, which will become clearer over the coming days."

NILESH SHAH, MANAGING DIRECTOR, KOTAK MAHINDRA ASSET MANAGEMENT CO

"The GST announcement lowers inflation, increases growth, boosts consumer sentiment, doesn't disturb the path of fiscal consolidation, improves ease of doing business and partially offers adverse effects of tariffs."

SHAILESH CHANDRA, PRESIDENT, SOCIETY OF INDIAN AUTOMOBILE MANUFACTURES

"This timely move is set to bring renewed cheer to consumers and inject fresh momentum into the Indian automotive sector. Making vehicles more affordable, particularly in the entry-level segment, these announcements will significantly benefit first-time buyers and middle-income families, enabling broader access to personal mobility."

C S VIGNESHWAR, PRESIDENT, FEDERATION OF AUTOMOBILE DEALERS ASSOCIATIONS

"The 56th GST Council meeting marks a watershed moment for India's automobile retail industry. This is a decisive step that will boost affordability, spur demand, and make India's mobility ecosystem stronger and more inclusive.

"One area that may need earliest clarification is about levy and treatment of cess balances currently lying in dealers' books, so that there is no ambiguity during transition."

SANJEEV ASTHANA, CEO, PATANJALI FOODS LIMITED

"At Patanjali Foods, we are fully committed to passing on these benefits to our consumers. This initiative will not only enhance FMCG penetration across urban and rural India but also act as a catalyst for broader economic revival by lifting consumption and supporting allied sectors.

"Our categories such as ghee, soaps, biscuits, noodles, honey, and chyawanprash will benefit from this reduction."

RADHIKA RAO, SENIOR ECONOMIST AT DBS BANK

"Lower GST rates will be positive for growth in the second half of the year and FY27, besides improving operational efficiency and expanding the size of the formal economy."

SHRIPAL SHAH, MD & CEO, KOTAK SECURITIES

"The GST rate cuts come at the right time which is just ahead of the festive season and against the backdrop of U.S. tariff tiffs. Lower taxes on essentials, FMCG products, autos and cement will leave consumers with more money in hand.

"This should directly boost demand, help traders and businesses see higher volumes, and may even favourably impact next quarter's earnings. It also carries the potential to ease inflation. The key will be how quickly companies pass on the benefits to customers."

DEVARSH VAKIL, HEAD OF PRIME RESEARCH, HDFC SECURITIES

"The GST reforms represent a paradigm shift toward economic rationality, with rate reductions on essentials like dairy, medicines, and food directly benefiting consumers due to their inelastic nature.

"Combined with RBI rate cuts, FY26 income tax rebates, and moderating inflation, these reforms create multiple stimuli for consumption and economic growth."

SUDARSHAN VENU, CHAIRMAN, TVS MOTOR COMPANY

"The GST tax cuts are a major move by the government to further turbocharge growth. For our industry especially, it’s a welcome move as it will help two wheelers become more accessible and also help those looking to upgrade."

NEERAJ AKHOURY, PRESIDENT, CEMENT MANUFACTURERS' ASSOCIATION AND MANAGING DIRECTOR, SHREE CEMENT

"Bringing GST down to 18% corrects a long-standing anomaly, aligns cement with other core building materials, and enhances global competitiveness. As a key input for infrastructure and housing, fairer taxation is expected to boost consumption and support projects from affordable housing to large-scale infrastructure."

NITIN RAO, CEO, INCRED WEALTH

"History has shown that such measures add significantly to GDP growth and a repeat is expected.

"Positive this will play out, though a small concern remains wherein recent measures like the rate cuts + budgetary measures taken on reduced taxes have not created necessary consumption boosters. We will have to wait and see if this welcome third step reverses the consumption trend or there is a deeper problem around availability of money with consumers."

RAHUL SINGH, CIO-EQUITIES, TATA ASSET MANAGEMENT

"The GST rate rationalisation, following the income tax cuts and lower interest rates, is a serious effort to boost consumption and hence the overall economic growth outlook.

"This coupled with certain process reforms is also positive for SMEs (small and medium enterprises). While the direct beneficiaries include consumer, autos, cement, healthcare and insurance sectors, the second order beneficiaries in terms of growth will be retail banks & NBFCs (non-bank financial companies)."

RAJNEESH KUMAR, CHIEF CORPORATE AFFAIRS OFFICER, FLIPKART GROUP

"By lowering input costs for farmers, simplifying compliance for MSMEs (micro, small and medium enterprises), and enabling small sellers, artisans/weavers and smallholder farmers to seamlessly join e-commerce across states, these reforms will further strengthen India's growth engine.

"Timely implementation of these reforms ahead of the upcoming festival season will surely give a huge boost to consumption across categories, widen market access, and accelerate our collective journey towards a Viksit Bharat."

SHEETAL ARORA, CEO, MANKIND PHARMA

"The GST revisions go beyond tax rationalization, they represent a structural shift in how India is enabling healthcare access. By removing GST on lifesaving rare-disease and oncology therapies and reducing it on essential medicines and diagnostics, the government has signaled that affordability and innovation can go hand in hand."

AMIT PAITHANKAR, CEO OF WAAREE ENERGIES

"The recent GST rationalization reflects the government’s commitment to India’s clean energy transition. The reduction will lower project costs and accelerate the capacity addition needed to meet India’s clean energy targets. It also sends a strong signal to investors, improving the financial viability and attractiveness of the renewable energy sector."

(Reporting by Chandini Monnappa, Bharath Rajeswaran, Manvi Pant, Kashish Tandon, Meenakshi Maidas, Nandan Mandayam, Yagnoseni Das, Vivek Kumar M and Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala and Nivedita Bhattacharjee)

(([email protected]; https://www.linkedin.com/in/chandini-monnappa-8a37b013b/;))

July 24 (Reuters) - Indian cement maker ACC ACC.NS reported a first-quarter profit rise on Thursday, helped by higher prices of the construction material.

Standalone profit after tax - which excludes the company's non-core realty and infrastructure subsidiaries - rose to 3.85 billion rupees ($44.6 million) in the three months ended June, up nearly 5%, the Adani Group firm said.

($1 = 86.3540 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala)

(([email protected]; X: @MukherjeeHritam;))

Changes date; Adds Adani Green's response in paragraph 6, updates stock moves in paragraph 9

May 5 (Reuters) - Representatives for Indian billionaire Gautam Adani met officials from U.S. President Donald Trump's administration to seek dismissal of criminal charges in an overseas bribery probe, with a resolution possible in a month, Bloomberg News reported.

In November, U.S. authorities indicted Adani and his nephew, Sagar Adani, alleging they paid bribes to secure power supply contracts, and misled U.S. investors during fund raises there.

The U.S. financial regulator summoned the duo, alleging they misled investors on compliance during a $750 million Adani Green ADNA.NS bond sale in the United States.

The billionaire's aides are trying to make the case that his prosecution does not align with Trump's priorities and should be reconsidered, Bloomberg News reported on Sunday, citing sources familiar with the matter.

The discussions began earlier this year and have picked up in recent weeks, with a resolution possible within a month if the momentum continues, the report said.

Adani Green, in a statement on Monday, reiterated it was not part of any proceedings, but it did not directly comment on the report about the meetings. It had recently said its review of the indictment found no non-compliance or irregularities.

The Justice Department and White House declined comment to Bloomberg on the report and did not respond to Reuters for comment outside business hours.

Adani Enterprises, the group's flagship firm, also did not respond to a request for comment. The group has previously denied any wrongdoing.

Shares of Adani Group's nine Indian listed companies rose between 1.7% and 10.5% on Monday, amid a 0.6% increase in the broader market.

The indictment has erased about $13 billion in market value from Adani Group's nine listed firms.

(Reporting by Bipasha Dey, Nandan Mandayam and Kashish Tandon in Bengaluru; Editing by Nivedita Bhattacharjee and Mrigank Dhaniwala)

(([email protected];))

April 24 (Reuters) - ACC Ltd ACC.NS:

• BOARD RECOMMENDS DIVIDEND OF 7.50 RUPEES PER EQUITY SHARE

• ACC LTD MARCH-QUARTER PAT 7.35 BILLION RUPEES

• ACC LTD MARCH-QUARTER REVENUE FROM OPERATIONS 59.49 BILLION RUPEES

Source text: ID:nBSE2skPyz

Further company coverage: ACC.NS

(([email protected];))

March 28 (Reuters) - India's Ambuja Cements ABUJ.NS has re-designated CEO Ajay Kapur as the managing director and named Vinod Bahety as its new chief, the Adani Group company said on Friday, effective April 1.

Kapur, who has spent three decades working in the cement, construction, power and heavy metals sectors, has been appointed for a two-year term while Bahety will serve as CEO for three years.

Bahety has been the finance chief for Ambuja and ACC ACC.NS, both subsidiaries of billionaire Gautam Adani's conglomerate, since September 2022.

The rejig comes as consolidation in India's cement sector intensifies, with Ambuja Cements charting an acquisition spree to rival the Aditya Birla Group-owned UltraTech Cement ULTC.NS. The two companies have jostled for market share amid expectations the government will continue to spend heavily on infrastructure.

(Reporting by Ashish Chandra in Bengaluru; Editing by Janane Venkatraman)

(([email protected]; +91 7982114624;))

March 5 (Reuters) - ACC Ltd ACC.NS:

• ACC LTD - KARNATAKA TAX ORDER LEVIES PENALTY OF 67.8 MILLION RUPEES

• ACC LTD - CHHATTISGARH TAX ORDER LEVIES PENALTY OF 12.7 MILLION RUPEES

Source text: ID:nBSE8V661Q

Further company coverage: ACC.NS

(([email protected];))

March 3 (Reuters) - Kaushalya Logistics Ltd KAUH.NS:

• COMMENCES OPERATIONS AT BUXAR DEPOT FOR ACC

Source text: ID:nNSE4dLcw2

Further company coverage: KAUH.NS

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Adds production start date for eDCTs in paragraph 8, union comment in paragraphs 10-11

MILAN, Feb 17 (Reuters) - Stellantis STLAM.MI said on Monday it would make dual-clutch transmissions for hybrid vehicles at its Termoli plant in Southern Italy, which its joint venture ACC has earmarked for the creation of an electric vehicle battery-making hub.

The Termoli plant, which currently makes engines, is one of three sites in Europe where Stellantis-led ACC has announced plans to create EV battery-making gigafactories.

While a gigafactory in France has already started operations, plans for two similar facilities in Italy and Germany were officially paused last year, as ACC was switching to lower cost batteries amid slowing demand for EVs.

A spokesperson for ACC - which also has Mercedes MBGn.DE and TotalEnergies TTEF.PA as shareholders - said on Monday the JV was still assessing its investment plans for Italy and Germany with an aim to take a decision within this year, but not before June.

Stellantis' announcement on Termoli does not change the ongoing situation, the spokesperson added.

Earlier this month the CEO of TotalEnergies, which owns a 25% stake in ACC, said the JV should focus its efforts just on the French plant, signaling the plans for the Italian and German gigafactories could be eventually scrapped.

Stellantis said in a statement on Monday it will produce electrified dual clutch transmissions (eDCT), a key component for hybrid vehicles, in Termoli starting from 2026, to help expand its hybrid product line.

It made no reference to ACC's plans for the plant.

"With a target of three hundred thousand units per year, Termoli becomes Stellantis' third production hub for this sophisticated transmission," the company said.

The automaker already makes eDCTs in Mirafiori, Italy, and Metz, France.

Italy's major metalworker unions welcomed the announcement on Monday, saying eDCT production would provide employment for around 300 of the total 1,800 staff at the Termoli plant.

Gianluca Ficco of UILM union said long-term decisions were now needed for the future of the plant, including on the gigafactory plan.

Stellantis also said on Monday it would increase production levels for key components needed to support increased eDCT output at its plants in Sint Truiden, Belgium, and in Metz.

It added it would also install a new assembly line for the components in Metz.

Stellantis, the world's fourth largest carmaker, currently has a separate plan with Chinese battery maker CATL 300750.SZ to build a 4.1 billion euro ($4.3 billion) gigafactory in Spain.

($1 = 0.9537 euros)

(Reporting by Giulio Piovaccari; Editing by Cristina Carlevaro, Valentina Za and Jan Harvey)

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Feb 12 (Reuters) - Jupiter Wagons Ltd JUWL.NS:

• BAGS 6 BILLION RUPEES ORDER FROM AMBUJA CEMENT AND ACC

Source text: ID:nBSEgv341

Further company coverage: JUWL.NS

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By Hritam Mukherjee

Feb 1 (Reuters) - Indian cement companies' shares fell in a special trading session on Saturday after the government announced a 'modest' spending hike for infrastructure projects in the annual budget , which failed to impress investors.

UltraTech Cement's ULTC.NS shares dropped 2.7%, while those of rival Adani Group's cement firms Ambuja ABUJ.NS and ACC ACC.NS slumped 4.5% and 2.3% respectively.

Other big cement firms - Shree SHCM.NS and Dalmia Bharat DALB.NS - declined 3% and 2% respectively.

The Indian government said it will spend a record 11.21 trillion rupees ($129.54 billion) on infrastructure in the upcoming financial year that begins on April 1, but the increase in planned spending disappointed markets.

"The capex outlay for fiscal year 2026.. looks modest compared to raises made in FY25 and FY24 budget, and misses market expectations slightly," said Amit Anwani, research analyst at Prabhudas Lilladher.

Cement, a key construction material, is a direct beneficiary of government's capital spending. India's infrastructure index .NIFTYINFR reversed gains following the budget announcement, and was last down 1.5%.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Varun H K)

(([email protected]; X: @MukherjeeHritam;))

Jan 27 (Reuters) - ACC Ltd ACC.NS:

• DEC-QUARTER PAT 10.89 BILLION RUPEES

• DEC-QUARTER REVENUE FROM OPERATIONS 51.76 BILLION RUPEES

Further company coverage: ACC.NS

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Jan 22 (Reuters) - ACC Ltd ACC.NS:

• BEGINS OPERATIONS AT SAHARSA DEPOT FOR ACC

Further company coverage: ACC.NS

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