JKCEMENT

Jan 30 (Reuters) - JK Cement JKCE.NS said on Thursday four of its workers were killed in an accident at one of its plants in central India.

The accident occurred at the cement maker's Panna plant in the state of Madhya Pradesh, which has been undergoing an expansion.

Fourteen more workers had minor injuries, the company said.

While JK Cement did not specify the nature of the accident, multiple local media reports said it was due to a slab collapse.

Local newspaper the Hindu reported that the top floor on an under-construction unit caved in. The cement maker did not immediately respond to Reuters' request seeking confirmation.

JK Cement has "taken action to extend all sorts of help to the affected families and (is) treating injured workers in (the) best possible way," it said in a statement.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Leroy Leo)

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** Jefferies raises PT on India's JK Cement JKCE.NS after the mid-cap cement maker's Q3 core profit margin jumps 53% quarter-on-quarter

** Brokerage says co has been able to improve premium product mix to 16%, clocking highest premium mix vs past

** Co's adjusted EBITDA or core profit per metric ton at Rs 1040, highest among listed peers who have reported earnings - Elara

** Adds, sequential recovery aided by better prices in North India and lower maintenance spending

** Cement firms have issued positive commentary for upcoming quarters on price hikes being absorbed by market and improving demand, after months of downtrend in both

** JKCE largely flat at 4759 rupees on Tuesday; up 13.2% in the last 12 months

** Stock rated "Buy" on avg by 22 analysts; median PT at 5123 rupees - LSEG data

(Reporting by Ananta Agarwal in Bengaluru)

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Jan 20 (Reuters) - J K Cement Ltd JKCE.NS:

• TAX DEMAND OF 1.75 BILLION RUPEES IS DELETED AFTER RECTIFICATION ORDER

Source text: ID:nBSE1mZKRj

Further company coverage: JKCE.NS

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Dec 19 (Reuters) - J K Cement Ltd JKCE.NS:

• JK CEMENT WINS BID FOR MAHAN COAL MINE IN MADHYA PRADESH

Source text: ID:nBSE5ypyGZ

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** Shares of cement makers Ultratech Cement ULTC.NS and JK Cement JKCE.NS rise 2.5% and 4.5%, respectively

** ULTC is the top Nifty 50 .NSEI gainer by percentage, while JKCE is among the top gainers in Nifty 500 .NIFTY500 and Nifty Midcap 150 .NIMI150 indexes

** Uptick comes after Jefferies and Antique Stock Broking identify the two cement makers as the top picks in the sector, among large-caps and mid-caps, respectively

** Both brokerages say checks indicate an improvement in demand and cement companies are likely to hike prices by this month

** Jefferies expects 8%-10% volume growth in H2 of FY 2025 for cement firms after flat growth in H1

** ULTC shares up 9.3% in 2024 so far, while JKCE has gained 18% compared to an 11% rise in benchmark Nifty 50 -LSEG data

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Shares of India's J K Cement JKCE.NS rise 3.3% to 4784 rupees

** Brokerage Motilal Oswal hikes PT to 5600 rupees from 5150 rupees earlier, retains "buy" rating on co

** Says cost savings "in focus" for co, and cost structure has improved

** Says co's long-term capacity target of 50 MTPA by FY30 "in-line" with estimates

** Given co's expansion plans, see net debt to peak out in FY26 - brokerage

** Motilal's TP 15.5% higher than median TP of 4,850 rupees - LSEG data

** YTD stock has gained ~27%

(Reporting by Hritam Mukherjee in Bengaluru)

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Aug 23 (Reuters) - J K Cement Ltd JKCE.NS:

• J K CEMENT LTD - RE-APPOINTS AJAY KUMAR SARAOGI AS DEPUTY MD, CFO

Source text for Eikon: ID:nNSE8v7k8G

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July 19 (Reuters) - J K Cement Ltd JKCE.NS:

• J K CEMENT - TAX DEPARTMENT QUASHED DEMAND OF 578.4 MILLION RUPEES

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July 1 (Reuters) - J K Cement Ltd JKCE.NS:

• J K CEMENT LTD - SUMNESH KHANDELWAL, DY. CFO OF CO TENDERS RESIGNATION

Source text for Eikon: ID:nBSE98xJBy

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June 26 (Reuters) - J K Cement Ltd JKCE.NS:

• SUCCESSFULLY COMMENCED CEMENT GRINDING CAPACITY OF 2MNTPA

• UNIT COMMENCED CEMENT GRINDING CAPACITY OF 2MNTPA

• COMPAY'S TOTAL GREY CEMENT INSTALLED CAPACITY HAS INCREASED TO 24.34 MNTPA

Source text for Eikon: ID:nBSE27RnV5

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May 2 (Reuters) - J K Cement Ltd JKCE.NS:

• SIGNED WITH NOMINATED AUTHORITY OF MINISTRY OF COAL, COAL MINE DEVELOPMENT AND PRODUCTION AGREEMENT

• AGREEMENT FOR WEST OF SHAHDOL (SOUTH) COAL BLOCK

Source text for Eikon: ID:nNSE4Fwf0H

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March 19 (Reuters) - J K Cement Ltd JKCE.NS:

• SUBMISSION OF WINNING BID FOR MAHAN COAL BLOCK AND WEST OF SHAHDOL (SOUTH) COAL BLOCK

Source text for Eikon: ID:nBSE6wqFTS

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** Shares of JK Cement JKCE.NS rise 3.3% to hit record high of 4,540.20 rupees apiece

** Brokerage Motilal Oswal says achievement of 90% capacity utilisation from co's Madhya Pradesh plant, within one year of commissioning, to aid volume growth

** Adds, JKCE's capacity expansion strategy, better regional mix and rising green energy share to reduce operating costs and aid earnings

** Brokerage raises JKCE's PT to 5,050 rupees from 4,700 rupees, 15% higher than Monday's close; reiterates "buy" rating

** Motilal Oswal's PT is third highest among 21 analysts covering stock, with median PT of 4,406.50 rupees; the mean analyst rating is equivalent to "buy" - LSEG data

** Stock on course for fifth consecutive session of gains, if gains hold; up 7.4% over the period

(Reporting by Bharath Rajeswaran in Bengaluru)

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Feb 21 (Reuters) - J K Cement Ltd JKCE.NS:

• AGREED TO MODIFY TERMS OF ACQUISITION OF TOSHALI CEMENT

• TOTAL COST OF ACQUISITION IS 900 MILLION RUPEES TO ACQUIRE 100% EQUITY OF TOSHALI

Source text for Eikon: ID:nBSE1Jrm9J

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Jan 20 (Reuters) - J K Cement Ltd JKCE.NS:

• DEC-QUARTER PAT 2.89 BILLION RUPEES VERSUS 576.5 MILLION RUPEES

• DEC-QUARTER REVENUE FROM OPERATIONS 27.85 BILLION RUPEES VERSUS 23.4 BILLION RUPEES

• APPROVED EXPANSION OF 6 MNTPA WITH CAPITAL OUTLAY OF 28.5 BILLION RUPEES

• PROPOSED TO RAISE BORROWING UPTO 18.50 BILLION RUPEES

Source text for Eikon: ID:nBSE81srvs

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Jan 19 (Reuters) - J K Cement Ltd JKCE.NS:

• RECEIVED ASSESSMENT ORDER FOR DEMAND OF 1.75 BILLION RUPEES

• ERRONEOUS ADDITIONS HAVE BEEN MADE IN ORDER

• SET OFF OF MAT CREDIT HAS NOT BEEN ALLOWED

• ORDER SHALL BE CONTESTED BY WAY OF RECTIFICATION APPLICATION AND APPEAL

• THERE IS NO MATERIAL IMPACT ON FINANCIAL, OPERATION OR OTHER ACTIVITIES OF CO

Source text for Eikon: ID:nBSE6bmJ1X

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Jan 4 (Reuters) - J K Cement Ltd JKCE.NS:

• RECEIVED SHOW CAUSE NOTICE INVOLVING 23.2 MILLION RUPEES FROM OFFICE OF DEPUTY COMMISSIONER OF INCOME TAX (TDS) KANPUR

• NO MATERIAL IMPACT ON FINANCIAL, OPERATION OR OTHER ACTIVITIES OF CO

Source text for Eikon: ID:nNSE58lq2k

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Dec 26 (Reuters) - J K Cement Ltd JKCE.NS:

• UNIT HAS WRITTEN OFF AN AMOUNT EQUIVALE TO 4.05 BILLION RUPEES TOWARDS IMPAIRMENT OF ASSETS IN ITS BOOK OF ACCOUNTS

• REITERATE, CLARIFY THAT CO ALREADY MADE PROVISION TOWARDS IMPAIRMENT IN FY 2019-20, 2020-21 AND 2021-22

• PRESENT WRITEOFF WILL NOT AFFECT PROFITABILITY OF CO FOR FY 2023-2024

Source text for Eikon: ID:nNSE4bq33q

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Nov 30 (Reuters) - J K Cement Ltd JKCE.NS:

• CO ACQUIRED FURTHER 655,999 SHARES OF NAY ENERGY THROUGH RIGHT ISSUE

• INVESTMENT OF CO IN NAY ENERGY SHALL BE REMAIN SAME AT 26% AFTER ACQUISITION OF SHARES

• COST OF ACQUISITION AT ABOUT 9.5 MILLION RUPEES

Source text for Eikon: ID:nNSE9dwYfq

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Oct 30 (Reuters) - J K Cement Ltd JKCE.NS:

• INVESTMENT IN EQUITY SHARE OF FOUR SPVS SUPPLYING RENEWABLE POWER

Source text for Eikon: ID:nBSE1Cndml

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July 6 (Reuters) - J K Cement Ltd JKCE.NS:

• JK MAXX PAINTS AT SECOND TRANCHE INVESTED 602.4 MILLION RUPEES TOWARDS ACQUISITION OF 20% SHARES OF ACRO PAINTS

Source text for Eikon: ID:nNSEwzSgy

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** Shares of JK Cement Ltd JKCE.NS rise as much as 3.6% to 3,324 rupees, their highest level since Feb. 10, 2022

** The cement maker on Monday said it has approved acquisition of Toshali Cements' entire stake for 1.57 bln rupees ($19.01 mln)

** About 265,323 shares change hands by 9:42 a.m. IST, 2.4x the 30-day avg of 110,780 shares - Refinitiv data

** If trends hold, stock on track to advance for second consecutive session

** Thirteen of the 24 analysts covering the stock have a "buy" or higher rating, five have "hold" while six rate it at "sell" or lower; median PT is 3,260 rupees - Refinitiv

** Stock last up 3.2%, extending YTD gains to 13.6%

($1 = 82.5790 Indian rupees)

(Reporting by Priya Sagar in Bengaluru)

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June 5 (Reuters) - J K Cement Ltd JKCE.NS:

• ACCORDED IN PRINCIPLE APPROVAL TO SIGN A SHARE PURCHASE AGREEMENT WITH TOSHALI CEMENTS

• APPROVAL FOR ACQUISITION OF 100% EQUITY SHAREHOLDING FROM ALL EXISTING SHAREHOLDERS OF TOSHALI

• COST OF ACQUISITION 1.57 BLN RUPEES

Further company coverage: JKCE.NS

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May 10 (Reuters) - J K Cement Ltd JKCE.NS:

• TO CONSIDER RAISING OF FUND THROUGH PRIVATE PLACEMENT OF NON CONVERTIBLE DEBENTURES UPTO 5 BILLION RUPEES

Source text for Eikon: ID:nBSEb0rLnc

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