JK Lakshmi Cement gains on plan to spend Rs 2,000 crore in capacity addition

01 Nov 2012

JK Lakshmi Cement is currently trading at Rs. 124.60, up by 0.55 points or 0.44% from its previous closing of Rs. 124.05 on the BSE.

The scrip opened at Rs. 124.30 and has touched a high and low of Rs. 125.70 and Rs. 120.65 respectively. So far 19454 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 131.00 on 23-Oct-2012 and a 52 week low of Rs. 36.60 on 29-Dec-2011.

Last one week high and low of the scrip stood at Rs. 128.45 and Rs. 117.65 respectively. The current market cap of the company is Rs. 1464.99 crore.

The promoters holding in the company stood at 45.95% while Institutions and Non-Institutions held 17.80% and 35.62% respectively.

JK Lakshmi Cement is reportedly planning to invest Rs 2,000 crore over the next three years to take its capacity to 9 million tonnes (mt ) from 5.3 mt. The company is planning to start work on a 2.7-mt greenfield project at Durg in Chhattisgarh and will need an investment of Rs 1,250 crore for the same. The plant is expected to be commissioned by October 2013.

The company will fund this investment through debt of Rs 850 crore, which has already been tied up, while the rest will be through internal accruals. It will restart production at Udaipur plant which has remained shut for the last 10 years. This will add capacity of 1.3 mt.

Related JK Lakshmi Cement Ltd. Links:

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