JK Cement jumps on commissioning Gujarat unit.

JK Cement rose 3.37% to Rs. 1,639.10 after the company said it has successfully commissioned 0.7 million tonne per annum grey cement grinding capacity at Balasinor unit in Gujarat.

The cement maker has successfully commissioned 0.7 million tonne per annum grey cement grinding capacity at its unit in Balasinor (Gujarat). The unit commenced commercial despatches on 8 October 2020.

With this, the company has successfully completed its grey cement capacity expansion of 4.2 million tonnes per annum comprising in Rajasthan (2 MnTPA), Uttar Pradesh (1.5 MnTPA) and Gujarat (0.7 MnTPA). The announcement was made after market hours yesterday, 8 October 2020.

JK Cement's consolidated net profit tanked 62.2% to Rs. 49.95 crore on a 27.9% drop in net sales to Rs 1,004.85 crore in Q1 June 2020 over Q1 June 2019.

JK Cement is engaged in manufacturing cement and cement products.

BS