JK Cement is currently trading at Rs 333.40, up by 1.70 points or 0.51% from its previous closing of Rs 331.70 on the BSE.
The scrip opened at Rs 332.00 and has touched a high and low of Rs 337.95 and Rs 331.25 respectively. So far 7439 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 338.70 on 18-Dec-2012 and a 52 week low of Rs 96.10 on 29-Dec-2011.
Last one week high and low of the scrip stood at Rs 338.70 and Rs 303.00 respectively. The current market cap of the company is Rs 2316.34 crore.
The promoters holding in the company stood at 66.57% while Institutions and Non-Institutions held 21.47% and 11.96% respectively.
Credit rating agency, CARE has revised ‘A+‘ ratings of J K Cement’s long-term bank facilities worth Rs 1,023.1 crore which was enhanced from Rs 1,008.9 crore to ‘AA-’. The rating agency has also reaffirmed A1+ rating to the company’s short-term bank facilities worth Rs 200.00 crore.
The company has received the said rating on the back of its strong brand image in the North Indian market, increasing presence in Karnataka & Maharashtra markets, self-sufficiency in power requirement, and comfortable liquidity and solvency position. The long-term rating is constrained by the company’s large sized debt-funded expansion plans and cyclicality associated with the cement industry.
J K Cement is one of the largest cement manufacturers in north India. It is also second largest producer of white cement in India. The company exports white cement to countries like South Africa, Nigeria, Singapore, Bahrain, Bangladesh, Sri Lanka, Tanzania, UAE and Nepal.
