JK Cement Ltd arm invests in Acro Paints Ltd

JK Paints & Coatings Limited ('JKPCL'), wholly owned subsidiary of JK Cement Ltd, has initially / at first tranche invested an amount of INR 153 Crores (Rupees One Hundred and Fifty Three Crore Only) and completed the acquisition of 60% equity shares of Acro Paints Ltd. (APL) (CIN: U24ll9DL1989PLC03630S).

Accordingly, APL has become a subsidiary of JKPCL and a step down subsidiary of the Company with immediate effect.

Shares of JK Cement Limited was last trading in BSE at Rs. 2872.70 as compared to the previous close of Rs. 2885.90. The total number of shares traded during the day was 1390 in over 499 trades.

The stock hit an intraday high of Rs. 2900.25 and intraday low of 2858.45. The net turnover during the day was Rs. 3998732.00.

Source : Equity Bulls

Keywords

JKCement INE823G01014 JKPaintsandCoatings Investment AcroPaints