JK Cement acquires 26% stake in Truere Current SPV for renewable energy

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JKCEMENT · price

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Price reaction · full curve 14 horizons · vs prior close

-1.4%1-day move

₹5449.00

prior close

₹5436.00

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AI summary

JK Cement invested ~Rs. 2.81 crore for a 26% stake in Truere Current Pvt Ltd (TCPL), an SPV of Oriana Power. TCPL is setting up a Battery Energy Storage System (BESS) for a 40 MWp solar power plant in Rajasthan to supply power to JK Cement's Gotan plant. Deal done in cash at arm's length; not a related-party transaction. Part of JK Cement's long-term renewable energy strategy.

Likely market impact

Supports green power supply for Gotan plant and long-term renewable energy goals. Small investment; limited immediate financial impact.