JK Cement trades higher on planning to raise Rs 500 crore via NCDs
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JK Cement is currently trading at Rs. 2466.95, up by 16.50 points or 0.67% from its previous closing of Rs. 2450.45 on the BSE.
The scrip opened at Rs. 2480.00 and has touched a high and low of Rs. 2480.00 and Rs. 2401.60 respectively. So far 2768 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3836.65 on 08-Nov-2021 and a 52 week low of Rs. 2135.30 on 09-Mar-2022.
Last one week high and low of the scrip stood at Rs. 2480.00 and Rs. 2282.65 respectively. The current market cap of the company is Rs. 19060.15 crore.
The promoters holding in the company stood at 45.82%, while Institutions and Non-Institutions held 37.12% and 17.06% respectively.
JK Cement is planning to raise up to Rs 500 crore via non-convertible debentures (NCDs) on a private placement basis in one or more tranches. The company's board has recommended the proposal in this regard for approval of shareholders in the next AGM of the company. The fund raising will be at an interest rate that will be determined by the prevailing money market conditions at the time of borrowing.
JK Cement is one of the largest cement manufacturers in north India. It is also second largest producer of white cement in India. The company exports white cement to countries like South Africa, Nigeria, Singapore, Bahrain, Bangladesh, Sri Lanka, Tanzania, UAE and Nepal.
