JK Cement moves up on making investment in equity share capital of Mehrauni Electro Power
JK Cement is currently trading at Rs. 5477.05, up by 46.00 points or 0.85% from its previous closing of Rs. 5431.05 on the BSE.
The scrip opened at Rs. 5477.05 and has touched a high and low of Rs. 5477.05 and Rs. 5439.70 respectively. So far 56 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 7565.00 on 20-Aug-2025 and a 52 week low of Rs. 4798.50 on 07-May-2025.
Last one week high and low of the scrip stood at Rs. 5750.00 and Rs. 5395.00 respectively. The current market cap of the company is Rs. 41964.77 crore.
The promoters holding in the company stood at 45.66%, while Institutions and Non-Institutions held 40.37% and 13.95% respectively.
JK Cement has made an investment in the equity share capital of Mehrauni Electro Power (the SPV). The company has subscribed to 21,00,000 equity shares of face value Rs 10 aggregating to Rs 2.10 crore, representing 9.77% of the equity share capital of SPV. This investment is pursuant to the Power Purchase Agreement (PPA)/ Shareholder Subscription Agreement and strengthens the company’s long term renewable energy strategy.
Mehrauni Electro Power is a special purpose vehicle established by the Onward Solar Power, which is currently establishing a facility with 40 MW AC capacity solar power plant in Uttar Pradesh. This project as per PPA with Mehrauni Electro Power and Onward Solar for supplying 7 MWp solar power to the company’s Prayagraj plant.
