India's JK Lakshmi Cement hits 4-year high on strong March-quarter results

JK Lakshmi Cement

21/05/2021 09:10

** Indian cement maker's shares  JKLC.NS  gain as much as
10.3% to 513.80 rupees, their highest since May 17, 2017
    ** Co reports March-quarter net profit after tax of 1.37 bln
rupees ($18.76 mln) vs 1.01 bln rupees a year ago (https://bit.ly/3woJk8S)
    ** Co's March-quarter revenue from ops rises to 13.22 bln
rupees vs 10.61 bln rupees a year ago
    ** "Despite hike in prices of inputs like petcoke, diesel,
fly ash, gypsum, JKLC has improved its profitability on account
of substantial higher volumes, higher realisations, improved
product mix," co says
    ** More than 5.68 mln shares traded by 0756 GMT, 13.2 times
their 30-day avg volume of 431,211
    ** Thirteen of 19 brokerages rate the stock "buy" or higher,
6 "hold"; their median PT is 450 rupees - Refinitiv data
    ** Stock is up 37.04% this year, as of last close 


($1 = 73.0110 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))