Date:14/09/2006 URL: http://www.thehindubusinessline.com/2006/09/14/stories/2006091402731500.htm

Back JK Cement: Betting on carbon credit

JK Cement has been active at the bourses in recent times. The stock closed at Rs 177.45, a gain of six per cent over the previous day's close. It clocked a volume of 1.29 lakh shares against two-week average volumes of 25,000 shares.

According to market sources, traders are betting on the company's expansion plans. The waste heat recovery (WHR) power plant being implemented by the company has been registered with UNFCCC for carbon credit.

The WHR plant, which will generate power out of the hot gases emitted during the production process at the current facilities, will entitle it to sell carbon credits. The company expects decent revenues from the sale of carbon credits after the implementation of the project by June 2007.

The company has also successfully implemented 0.50 million-tonne capacity enhancement at its grey cement plant at Nimbahera on schedule, for which it had raised funds through public issue in March.

K.S. Badri Narayanan