JK Cement rises on planning to invest in four companies
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JK Cement is currently trading at Rs. 3100.85, up by 13.25 points or 0.43% from its previous closing of Rs. 3087.60 on the BSE.
The scrip opened at Rs. 3130.95 and has touched a high and low of Rs. 3131.00 and Rs. 3080.00 respectively. So far 712 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3477.25 on 06-Sep-2023 and a 52 week low of Rs. 2542.65 on 27-Jan-2023.
Last one week high and low of the scrip stood at Rs. 3206.00 and Rs. 3053.75 respectively. The current market cap of the company is Rs. 23959.73 crore.
The promoters holding in the company stood at 45.80%, while Institutions and Non-Institutions held 38.64% and 15.54% respectively.
JK Cement has planned to acquire equity shares of the four companies (SPVs) under the Captive Power Plant Model. The company proposes to acquire 26% Paid-up Equity Shares of Nay Energy, 34.91% in Fourth Partner Energy, 26% in CleanMax Matahari and 42% in O2 Renewable Energy V. The Renewable Power generated by SPVs will be sourced by the Company for its Captive Consumption.
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.
