J K Cement Ltd to form subsidiary for Paint Business foray

The Board of Directors of J K Cement Ltd in their Board Meeting held today has considered / approved entering into Paint business through a wholly owned subsidiary (WOS), formation of new wholly owned subsidiary and investment in the said wholly owned subsidiary.

The WOS would undertake manufacturing, selling, trading, importing and exporting and otherwise dealing in all types of paints and allied products and servlces.

The Board of Directors have approved an investment of up to INR 600 Crore spread over the first 5 years.

Shares of JK Cement Limited was last trading in BSE at Rs. 2638.25 as compared to the previous close of Rs. 2683.95. The total number of shares traded during the day was 6599 in over 1817 trades.

The stock hit an intraday high of Rs. 2730.50 and intraday low of 2595.65. The net turnover during the day was Rs. 17433537.00.

Source : Equity Bulls

Keywords

JKCement INE823G01014 PaintBusinessForay Investment Subsidiary INR600Crores