JK Cement

Price wars led by increasing capacities and aggressive competition may mar prospects

UltraTech Cement said that rising government spending, recovery in the rural economy on a pickup in farm incomes and pre-sales of housing real estate should also help the industry recover.

The conference stressed upon the critical role technology will play in this sector in improving processes in the infrastructure - construction sector

JK Cement latest entrant after JSW, Grasim, Astral Pipes and B2B marketplace Infra.Market; move aimed at driving synergies, leveraging distribution network, say experts

Market at close: The pain was even more severe in the broader market space where the BSE MidCap and SmallCap indices fell 3 and 4 per cent, respectively

Stocks to Watch Aban Holdings and Landmak Cars will be debuting on the stock exchanges on Friday. Both these stocks are likely to witness a tepid start to trade.

JK Cement on Thursday announced its foray into the paints business by acquiring 60 per cent stake in Rajasthan-based Acro Paints in a Rs 153 crore deal. Its wholly-owned subsidiary JK Paints and Coatings Ltd has entered into a share purchase agreement with Acro Paints Ltd and its shareholders to acquire a 60 per cent controlling stake in the company. The "remaining 40 per cent shall be acquired over a period of 12 months as per the definitive agreement entered between the parties", a joint statement said. Acro Paints is a manufacturer of architectural and high-performance paints and coatings. "This acquisition is a step towards fast-tracking JK Cement's entry into the paints business, expanding its product offerings and potentially foray into new markets," it added. Acro Paints has two manufacturing facilities, which are currently going through capacity expansion and are expected to be completed by Q2 FY24. Post-expansion, it will have a capacity of 60,000 KL in decorative and ..

CLOSING BELL: The S&P BSE Sensex hit a fresh life-time high at 62,701, and the Nifty 50 registered a fresh summit at 18,614 on Monday

Stocks to Watch today: Wipro has launched a new financial services consulting capability in India named Capco

Despite of Wednesday's fall, most of the cement stocks have outperformed markets in the past one month, on consolidation hopes in the cement industry.

JK Cement Ltd plans 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, said JK Cement in a regulatory filing. Besides, the board has forwarded the request from certain individual/company belonging to persons acting in concert with Promoters Group seeking reclassification of their shareholding in JK Cement to Public Category. For the quarter ended March 31, 2022, JK Cement, the promoter & promoter group, held 45.82 per cent stake in the company. The company had on Saturday reported 6.93 per cent fall in consolidated net profit at Rs 199.44 crore for the fourth quarter ended March 31, 2022. The company had posted a net profit of Rs 214.31 crore for the ...

Analysts believe current input cost headwinds are transitory as likely price hikes by companies will help aid margin pressures.

That said, if JK Cement is able to achieve its guidance, it could potentially add nearly 5 per cent to its market-cap over the medium term, expects Emkay Global

On the NSE, the Nifty50 index touched an intra-day low of 15,711 before settling at 15,863, down 382 points or 2.35 per cent

In the past one month, the stock price of JK Cement has tanked 28 per cent on concerns of earnings downgrade due to rising energy cost.

FMCG major Emami has acquired a 19 per cent equity stake in direct-to-consumer (D2C) nutrition firm Tru Native F&B Pvt Ltd.

Apart from higher coal/petcoke prices, the recent increase in crude prices/ocean freight rates may further put pressure on operating costs for the cement industry.

Q2FY22 is generally a weak quarter for cement makers due to monsoon, but the quarter under preview has also been affected by rising coal and pet coke prices and a transporters' strike

JK Cement Ltd, part of J.K. Organisation, targets up to 10% growth in its revenue this fiscal, helped by the government's push for infrastructure, pent-up demand said top company official.

Cement is among the few sectors witnessing strong demand and pricing power