Fidelity entities raise JK Cement stake to 9.17% via open market

2 min read Updated on 11 Jul 2026, 11:45 AM

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Jubin VScanX News Team

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Funds managed by FMR LLC and FIL Limited have acquired an additional 2.14% stake in JK Cement Ltd through open market purchases between September 2023 and July 2026. This transaction increased their total holding to 9.17%, comprising 7,087,643 shares. The disclosure was filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

*this image is generated using AI for illustrative purposes only.

Funds managed by FMR LLC and FIL Limited have increased their shareholding in JK Cement Ltd to 9.17% through open market transactions. The acquisition involved the purchase of 1,654,961 shares, representing a 2.14% stake, between September 1, 2023, and July 8, 2026. Prior to this transaction, the acquirers held a 7.03% stake, or 5,432,682 shares, in the company.

The acquisition was executed via the open market route. Following the purchase, the total holding of the acquirers and Persons Acting in Concert (PAC) stands at 7,087,643 shares. The entities involved are not part of the promoter or promoter group of JK Cement Ltd. The total equity share capital of the target company remains at 77,268,251 shares.

Breakdown of Holdings

The total holding is distributed across various funds under the management of FMR LLC and its direct and indirect subsidiaries, as well as FIL Limited and its direct and indirect subsidiaries. The Fidelity Advisor Focused Emerging Markets Fund holds the largest individual stake among the disclosed entities.

Fund	FPI	Shares Held	% of Shares and Voting Rights Held
Fidelity Advisor Focused Emerging Markets Fund	INUSFP284216	2,495,998	3.23
Fidelity Series Emerging Markets Opportunities Fund - Materials Sub	INUSFP319616	1,009,121	1.31
Strategic Advisers Fidelity Emerging Markets Fund - FIAM Concentrated Emerging Markets Subportfolio	INUSFP049219	1,035,400	1.34
Fidelity Emerging Markets	INCAFP168816	909,800	1.18
FIAM Emerging Markets Opportunities Commingled Pool - Materials Sub	INUSFP026720	298,376	0.39
Strategic Advisers Emerging Markets Fund - FIAM Concentrated Emerging Markets Subportfolio	INUSFP085116	308,874	0.40
VIP Emerging Markets Portfolio	INUSFP307316	308,330	0.40
Fidelity Emerging Markets Equity Central Fund - Materials Sub	INUSFP328816	109,698	0.14
Minnesota SBI - Emerging Markets Equity Account	INUSFP057825	119,100	0.15
Fidelity Total International Equity Fund - Emerging Mkts Sub	INUSFP308416	97,748	0.13
Public Institution for Social Security - Concentrated Emerging Markets	INKUPF071123	83,400	0.11
NVIT Fidelity Institutional AM Emerging Markets Fund	INUSFP039417	79,600	0.10
FIAM Emerging Markets Commingled Pool	INUSFP270616	74,907	0.10
Fidelity Institutional AM Total International Equity (GG Trust) - Emerging Mkts Sub	INUSFP097825	44,968	0.06
Fidelity Emerging Markets Equity Multi-Asset Base Fund - Materials	INCAFP136916	32,240	0.04
Fidelity Emerging Markets Opportunities Institutional Trust - Materials Subportfolio	INCAFP027720	28,834	0.04
Fidelity Concentrated Emerging Markets Fund	INIRFP017023	13,233	0.02
NRRIT-Emerging Markets Equity Small Cap Portfolio	INUSFP006016	16,826	0.02
Fidelity Fundamental Emerging Markets ETF	INUSFP053725	3,884	0.01
Northern Trust Investments - Active M Emerging Markets Equity	INUSFP246215	10,516	0.01
FIAM Emerging Markets Equity Small Cap Commingled Pool	INUSFP241015	5,229	0.01
Fidelity Fundamental Global ex US ETF	INUSFP086125	1,561	0.002
Total		7,087,643	9.17

The regulatory filing was submitted to the National Stock Exchange of India Ltd and BSE Ltd. Alina Yu, Regulatory Reporting Manager, signed the disclosure on behalf of the acquirers on July 10, 2026.

Historical Stock Returns for JK Cement

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.47%	-2.40%	+11.96%	-5.59%	-15.55%	+75.68%

Will Fidelity continue to accumulate shares to approach the 10% public shareholding threshold?

How might this increased institutional ownership influence JK Cement's strategic capital allocation decisions?

Does this stake signal a broader bullish sentiment among foreign investors regarding the Indian cement sector?

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JK Cement gets relief as GST demands of ₹10.28 crore partly allowed

1 min read Updated on 06 Jul 2026, 04:39 PM

Reviewed by

Jubin VScanX News Team

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J. K. Cement Limited reported that the Additional Commissioner (Appeals), SGST, Kota, partly allowed its appeals against GST demands for FY 18-19 and FY 2020-21. The authority dropped demands of ₹2,99,95,934 and ₹7,28,33,509, respectively, while confirming minimal amounts of ₹9,83,196 and ₹65,984 along with penalties. The company stated the orders lack major financial impact and will appeal the confirmed demands to the GSTAT.

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J. K. Cement Limited secured partial relief in Goods and Services Tax (GST) disputes after the Additional Commissioner (Appeals), SGST, Kota, partly allowed appeals for FY 18-19 and FY 2020-21. The orders, received on July 3, 2026, resulted in the dropping of substantial tax demands totaling over ₹10 crore, though minimal amounts were confirmed with interest and penalty. The company stated that the orders do not have a major financial impact and intends to challenge the confirmed demands before the GSTAT within the statutory timeline.

The appeals addressed demand orders issued by the Deputy Commissioner-A, Business Audit Wing in Rajasthan, Jaipur. For FY 18-19, the original demand of ₹2,99,95,934 dated March 28, 2024, was dropped. A minimal demand of ₹9,83,196 was confirmed, along with applicable interest and a penalty of ₹1,02,240. Similarly, for FY 2020-21, the authority dropped a demand of ₹7,28,33,509 dated February 17, 2025. A nominal demand of ₹65,984 was confirmed, with interest and a penalty of ₹10,000.

The allegations in both cases involved the wrong availment of Input GST, specifically claims that the credits were not matched with GSTR 2B/2A. While the appeals were partly allowed, J. K. Cement maintains that the contentions imposing the remaining demand are not agreed upon. The company believes it has a strong case on merits regarding the confirmed amounts.

The following table details the outcomes of the appeals for the two financial years:

Sr. No.	Particulars	Details (FY 18-19)	Details (FY 2020-21)
1	Name of the Authority	Additional Commissioner (Appeals) State Tax, Kota (Rajasthan)	Additional Commissioner (Appeals) State Tax, Kota (Rajasthan)
2	Demand Dropped	₹2,99,95,934	₹7,28,33,509
3	Demand Confirmed	₹9,83,196	₹65,984
4	Penalty	₹1,02,240	₹10,000
5	Date of Order Receipt	July 03, 2026	July 03, 2026

J. K. Cement disclosed that it will file an appeal before the GSTAT against the confirmed demands. The company emphasized that the financial impact of these orders is not material to its operations.

Historical Stock Returns for JK Cement