JK Cement arm acquires further stake in Acro Paints Ltd

JK Maxx Paints Ltd (erstwhile JK Paints and Coatings Limited ('JKMPL"), wholly owned subsidiary of J.K. Cement Ltd., has at second tranche invested an amount of INR 60.24 Crores (Rupees Sixty Crores and Twenty Four Lakhs Only) towards the acquisition of 20% equity shares of Acro Paints Ltd. (APL) (CIN: U24119DL1989PLC036308)

Consequent upon the present acquisition, JKMPL has acquired total 80% equity share capital of APL with immediate effect.

Shares of JK Cement Limited was last trading in BSE at Rs. 3291.95 as compared to the previous close of Rs. 3308.60. The total number of shares traded during the day was 828 in over 291 trades.

The stock hit an intraday high of Rs. 3320.75 and intraday low of 3286.00. The net turnover during the day was Rs. 2738471.00.

Source : Equity Bulls

Keywords

JKCement INE823G01014 StakeIncrease AcroPaints