JK Cement gains as its arm acquires additional 20% stake in Acro Paints
JK Cement is currently trading at Rs. 3325.00, up by 33.05 points or 1.00% from its previous closing of Rs. 3291.95 on the BSE.
The scrip opened at Rs. 3291.05 and has touched a high and low of Rs. 3340.00 and Rs. 3291.05 respectively. So far 597 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3467.00 on 28-Jun-2023 and a 52 week low of Rs. 2148.90 on 14-Jul-2022.
Last one week high and low of the scrip stood at Rs. 3430.90 and Rs. 3286.00 respectively. The current market cap of the company is Rs. 25622.92 crore.
The promoters holding in the company stood at 45.83%, while Institutions and Non-Institutions held 38.02% and 16.16% respectively.
JK Cement’s wholly owned subsidiary -- JK Maxx Paints (JKMPL) has at second tranche invested Rs 60.24 crore towards the acquisition of 20% equity shares of Acro Paints (APL). Consequent upon the present acquisition, JKMPL has acquired total 80% equity share capital of APL with immediate effect.
The acquisition facilitated commercial presence of the Company in the Paint & construction chemicals business segment.
