JK Cement shares rise 4% on acquisition of Toshali Cements
JK Cement has given in-principle approval to sign a share purchase agreement with Toshali Cements to acquire 100% equity shareholding for a cost of INR157 crore ($21m). The committee of directors has been empowered to finalise the deal once the conditions precedent are met. The acquisition is expected to help JK Cement increase its footfall in the eastern region.
