China: Tangshan Jidong Cement recorded US$3.05bn in sales during the first nine months of 2023, down by 18% year-on-year from US$3.74bn during the first nine months of 2022. Its nine-month net loss was US$44m, against a profit of US$223m one year previously.

India: The Supreme Court will hear the case against Adani Group over its alleged financial misrepresentation and stock manipulation on 24 November 2023, 24 days after the previous deferred date of 30 October 2023. BusinessWorld News has reported that the National Financial Reporting Authority (NFRA) is currently ‘scrutinising’ the group's auditors, S.R. Batliboi, while the Securities and Exchange Board of India (SEBI) is investigating British Virgin Islands-based investment fund Gulf Asia Trade & Investment for possible violations of share ownership regulations in connection with the Adani Group.

Adani Group says that it has committed no wrongdoing.

Nigeria: Dangote Cement recorded sales of US$1.9bn during the first nine months of 2023, up by 29% year-on-year from nine-month 2022 levels. The group’s sales volumes of cement and clinker both dropped. The Premium Times newspaper has reported that Dangote Cement’s costs rose by 33%, primarily due to increased spending on electricity and fuel. Nonetheless, its profit after tax grew by 30%, to US$351m.

India: Andhra Cements has commenced work to dispose of grinding mills from its Visakha grinding plant in Andhra Pradesh’s Visakhapatnam District, Reuters has reported. The plant previously had a capacity of 600,000t/yr.

Sagar Cements concluded a deal to acquire Andhra Cements in January 2023.