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Motilal Oswal Report
JK Cement Ltd. announced its intention to enter the paints business through a wholly owned subsidiary, according to the notice given to BSE on March 05, 2022. The company will invest Rs 6 billion over five years.
It was likely that JK Cement might explore opportunities in the paints business too after Grasim Industries Ltd. announced its foray into this business in January 2021. Both Grasim and JK Cement are manufacturers of white cement and wall putty in India, whose distribution channels overlap with the paints distribution channel.
Investments of JK Cement will be at a much lower scale versus Grasim (capex of Rs 50 billion) and we believe that its presence will be limited to North/Central regions.
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