India's JK Lakshmi Cement hits near 3-week high on block deal

JK Lakshmi Cement

21/03/2023 09:10

** Shares of cement maker JK Lakshmi Cement Ltd  JKLC.NS 
rise as much as 3.7% to 719 rupees, hitting their highest since
March 1
    ** Stock posts biggest intraday pct gain since March 16
    ** About 501,636 shares of JKLC change hands in a block deal
as of 2:08 p.m. IST, at 690.90 rupees apiece - Refinitiv data
    ** Stock continues to trade above its 200-day moving average
since Sept. 8, but remains below 50- and 100-day moving averages
since March 3
    ** Moving Average Convergence Divergence (MACD) is above the
signal line, suggesting bullish momentum
    ** Trading volume at 687,537 shares as of 2:28 p.m. IST,
2.6x 30-day avg of 268,036 shares
    ** Twelve of the 16 analysts on stock have a "buy" or
"strong buy" rating, two have "hold" while two recommend "strong
sell"; median PT is 830 rupees - Refinitiv data
    ** Stock down 15.1% so far this year, up to last close

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((Dimpal.Gulwani@thomsonreuters.com;))