India's J.K. Cement rises nearly 6% after Q2 profit jump

J K Cement

06/11/2023 04:07

** Shares of J.K. Cement  JKCE.NS  rise as much as 5.6% to
3,308.05 rupees, mark sharpest intraday pct gain since May 30
    ** Co on Saturday reported more than 58% Y/Y jump in
consolidated PAT for Q2 while revenue rose 23.2% Y/Y
    ** During Q2, both grey & white cement business saw double
digit volume growth Y/Y
    ** Stock on track for a third consecutive session of gain,
if trend holds
    ** 10 of the 20 analysts covering the stock have a "buy" or
"strong buy" rating, four have "hold" while six rate it at
"sell" or "strong sell"; median PT is 3,330 rupees - LSEG data
    ** Stock last up 4.8%, bumping YTD gains to 12.4%

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))