Shares of JK Cement Ltd. logged the worst day in 14 years, slipped 9 percent to Rs 2,395, also its fresh 52-week low, on the BSE in Monday’s intra-day trade as analysts raised concerns about the company's "aggressive" investment plan to enter the paints business. The company said its board approved an investment of Rs 600 crore into the painting venture, which will be infused over a five-year period.“The subsidiary would undertake manufacturing, selling, trading, importing and exporting and otherwise dealing in all types of paints and allied products and services,” the company said in a stock exchange filing. Consumer preference for existing brands and infrequent purchase cycle could also make it difficult for JK Cement to gain share in the mid-to-premium emulsions business, they said.
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