India's JK Lakshmi Cement hits 8-mth low on June-qtr profit fall

JK Lakshmi Cement

28/07/2023 05:37

** Shares of JK Lakshmi Cement  JKLC.NS  fall as much as
4.7% to 637.25 rupees, lowest since Nov. 24, 2022
    ** Stock logs steepest intraday pct decline since May 22
    ** Co on Thursday reported a 29% YoY drop in June-quarter
consolidated net profit; expenses rose 9%, offsetting 4.6%
revenue growth
    ** Almost 225,000 shares change hands as of 10:00 a.m. IST,
~1x the 30-day moving average
    ** Avg rating of 15 analysts close to equivalent of 'buy;'
median PT is 814.5 rupees - Refinitiv data
    ** Stock down 18.1% YTD as of last close

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))