JK Cement - Commissioned 0.7 MTPA grinding unit - Angel Broking

Mr. Keshav Lahoti - Associate Equity Analyst, Angel Broking Ltd

"JK Cement has successfully commissioned 0.7 million tonne per annum grey cement grinding capacity and also commenced commercial dispatches from 8th October, 2020. With this the Company has successfully completed its grey cement capacity expansion plan of 4.2 million tonnes per annum comprising Rajasthan (2 MnTPA), Uttar Pradesh (1.5 MnTPA) and Gujarat (0.7 MnTPA). On Friday, Company stock prices hit a new lifetime high. JK Cement is predominantly a north based cement player. Currently, demand in the northern part of India is not majorly impacted due to Covid-19. We expect Company to realize better EBIDTA/tonne in the current scenario majorly due to reduction in cost of power and fuel. We are positive on JK Cement from an investment point of view due to better regional mix in cement portfolio, increased cement capacity and improving demand scenario."

Shares of J.K.CEMENT LTD. was last trading in BSE at Rs.1648.8 as compared to the previous close of Rs. 1585.7. The total number of shares traded during the day was 8652 in over 1364 trades.

The stock hit an intraday high of Rs. 1680 and intraday low of 1612.8. The net turnover during the day was Rs. 14211786.

Source : Equity Bulls

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