Hot Pursuit     09-Jan-23
JK Cement gains on arm acquires 60% stake in Acro Paints
JK Cement rose 1.19% to Rs 2,906.85 after the company's wholly owned subsidiary, JK Paints & Coatings (JKPCL), acquired 60% stake in Acro Paints (APL) at first tranche of Rs 153 crore.
APL was incorporated on 18 May 1989 and is currently engaged in the business of paints and construction chemicals manufacturing. Its turnover for financial year 2021-2022 was Rs 72.05 crore

This acquisition would give commercial presence of the company in the paint business segment.

Post acquisition, APL will become subsidiary of JKPCL and a step down subsidiary of the company. The transaction is expected to be completed within 1 year.

JK Cements is engaged in the manufacturing and selling of cement and cement related products. The company's consolidated net profit declined 25.7% to Rs 112.38 crore despite of 17.6% jump in net sales to Rs 2,227.95 crore in Q2 FY23 over Q2 FY22.

Previous News
  J K Cements consolidated net profit rises 19.03% in the March 2020 quarter
 ( Results - Announcements 17-Jun-20   19:25 )
  JK Cement gains on arm acquires 60% stake in Acro Paints
 ( Hot Pursuit - 09-Jan-23   09:42 )
  Dalmia Bharat Ltd Falls 4.31%
 ( Hot Pursuit - 03-Jun-22   09:45 )
  South West Pinnacle Exploration wins work order from J K Cements
 ( Corporate News - 28-Jun-24   18:55 )
  Volumes jump at J K Cements Ltd counter
 ( Hot Pursuit - 08-Jun-21   11:00 )
  JK Cement rises after Q2 PAT soars 170% YoY
 ( Hot Pursuit - 10-Nov-20   11:58 )
  Volumes jump at J K Cements Ltd counter
 ( Hot Pursuit - 02-Jul-21   11:00 )
  J K Cements standalone net profit rises 1.03% in the March 2016 quarter
 ( Results - Announcements 29-May-16   15:55 )
  JK Cement
 ( Analyst Meet / AGM - Conference Call 17-May-18   16:11 )
  J K Cements completes expansion of capacity at Katni unit
 ( Corporate News - 07-Jun-18   14:37 )
  JK Cements schedules board meeting
 ( Corporate News - 12-Jan-19   11:27 )
Other Stories
  Zydus Life rises on USFDA nod for heart failure drug
  10-Jul-24   15:36
  Paint stocks jump after price hikes by industry leaders
  10-Jul-24   15:31
  Sportking India spurts as board to mull stock split on 20 July
  10-Jul-24   15:14
  Blue Star Ltd leads losers in 'A' group
  10-Jul-24   15:01
  M&M hit the brakes after XUV700 price cut
  10-Jul-24   14:58
  Shashijit Infraprojects Ltd leads losers in 'B' group
  10-Jul-24   14:46
  Greaves Cotton rises as arm partners with ACKO to facilitate EV ownership in India
  10-Jul-24   14:44
  Lloyd Metals raises Rs 1,218 cr via QIP issue
  10-Jul-24   14:43
  KDDL gains after board grants approval to Rs 88 crore share buyback proposal
  10-Jul-24   14:37
  Volumes spurt at Rajesh Exports Ltd counter
  10-Jul-24   14:31
Back Top