Buy JK Lakshmi Cement, target price Rs 482: ICICI Securities

ICICI Securities has buy call on JK Lakshmi Cement with a target price of Rs 482. The current market price of JK Lakshmi Cement Ltd. is Rs 432.4.

JK Lakshmi Cement Ltd., incorporated in the year 1938, is a Mid Cap company (having a market cap of Rs 5088.64 Crore) operating in Cement sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1280.22 Crore, up 11.36 % from last quarter Total Income of Rs 1149.60 Crore and up 17.14 % from last year same quarter Total Income of Rs 1092.91 Crore. Company reported net profit after tax of Rs 118.44 Crore in latest quarter.


Investment Rationale
Price breakout above multiple highs since June 2019 and MACD in buy mode.

Promoter/FII Holdings
Promoters held 46.2 per cent stake in the company as of Dec 30, 2020, while FIIs held 10.7 per cent, DIIs 24.7 per cent and public and others 18.4 per cent