JK Cement has emerged as the preferred bidder for a limestone mining lease in Rajasthan, according to NSE filings reported by Upstox. The company participated in an e-auction conducted by the Rajasthan government for the Maliyakheri Limestone Block-I located in Chittorgarh. The mining lease covers 6.90 hectares of land and will provide the company with access to key minerals required for cement production.
This development follows JK Cement's previous success in securing mining rights, as reported by Upstox. The company also emerged as the preferred bidder for the Karunda Limestone Block-I last week, which spans 35.98 hectares in Chittorgarh, Rajasthan. These acquisitions represent significant steps in the company's efforts to secure raw material supply for its cement operations.
On April 15, JK Cement announced a strategic investment of ₹2.10 crore in Mehrauni Electro Power Pvt. Ltd to acquire 21 lakh equity shares at a face value of ₹10 per share, representing a 9.77% stake of the private entity. According to Upstox, this acquisition is part of the company's long-term renewable energy strategy to strengthen its energy portfolio.
JK Cement shares closed 3.7% lower at ₹5,584 after Friday's trading session, compared to ₹5,799 at the previous market close, as reported by Upstox. The stock has delivered more than 99% returns over the last five years and over 93% gains to investors in the last three years. On a year-to-date basis, the company's stock was up 1.8%, while gaining 9.3% in the past one month period. The company's market capitalisation stood at ₹43,266.36 crore as of Friday's close.
