Buy JK Lakshmi Cement, target price Rs 690: Yes Securities

Yes Securities has buy call on JK Lakshmi Cement with a target price of Rs 690. The current market price of JK Lakshmi Cement is Rs 670.

Time period given by analyst is Intra Day when JK Lakshmi Cement Ltd. price can reach defined target.

JK Lakshmi Cement Ltd., incorporated in the year 1938, is a Mid Cap company (having a market cap of Rs 7885.66 Crore) operating in Cement sector.


JK Lakshmi Cement Ltd. key Products/Revenue Segments include Cement, Others and Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1226.38 Crore, down -8.64 % from last quarter Total Income of Rs 1342.36 Crore and up 6.68 % from last year same quarter Total Income of Rs 1149.60 Crore. Company reported net profit after tax of Rs 87.29 Crore in latest quarter.


Investment Rationale
Forming another bullish candle, the stock surpassed the hurdle zone near Rs 660. Positive follow-up action could mean a shift of range on the upside and a further gain till Rs 685-690.

Promoter/FII Holdings
Promoters held 46.01 per cent stake in the company as of 30-Sep-2021, while FIIs owned 12.48 per cent, DIIs 25.29 per cent.