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JK Cement starts operations at manufacturing unit in Madhya Pradesh

JK Cement starts operations at manufacturing unit in Madhya Pradesh

JK Cement starts operations at manufacturing unit in Madhya Pradesh
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By CNBCTV18.com Nov 3, 2022 12:42:37 PM IST (Published)

Motilal Oswal recently upgraded JK Cement to a buy recommendation from the earlier rating of Neutral, with a price target of Rs 3,170.

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JK Cement commenced a cement grinding unit in Panna, Madhya Pradesh on Wednesday at its newly setup cement manufacturing facility.
The unit has been commissioned by its wholly-owned subsidiary Jaykaycem (Central) Ltd. Overall capacity for this unit is said to be 2 million tonnes per annum (MTPA)

The clinkerisation is at an advanced stage and would be commissioned shortly, the company said. Clinker is known to be the backbone of cement production and involves a mixture of limestone and minerals that are heated in a klin and are transformed by this heat.

JK Cement also recently opened its grey cement grinding unit in Kanpur, Uttar Pradesh. The newly built unit in the Hamirpur area has a total production capacity of 2 million tonnes per annum (MTPA).

Motilal Oswal recently upgraded JK Cement to a buy recommendation from the earlier rating of Neutral, with a price target of Rs 3,170. The brokerage cited an improving outlook along with its strengthening presence in North and Central India behind the upgrade.

JK Cement shares are trading 0.3 percent lower at Rs 2,830. The stock has gained 11 percent over the last 30 days.
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