/ J K Cement To Raise Funds Worth Rs 500 Crore, Board Recommends Dividend Of Rs 8/Share ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 15 May 2017

J K Cement on Monday hit its 52-week high of Rs 1194.20 per share on the BSE as the company on the back of strong Q4 numbers. The stock rallied nearly 11.6% on the BSE.

The company's Q4FY17 (Jan-March) net profit increased by 30.4% at Rs 91.4 crore versus Rs 70.1 crore, in the same quarter last fiscal.

The company in its board meeting held on May 13 also said that they have recommended a dividend of Rs 8 per equity share for the financial year ended on March 31, 2017, subject to the approval of members in ensuing Annual General Meeting.

The board has also decided to raise fund by issue of secured / irredeemable non-convertible debentures in one of more series/tranches on private placement basis for an amount upto Rs 500 crore at an interest rate that will be determined by the prevailing money market conditions at the time of borrowing subject to the approval of the shareholders.

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