JK Lakshmi Cement soars 15% in 2 days on hopes of margin improvement ahead

Analysts said the results were better than estimated, mainly driven by better-than- expected realisations that were up around 17 per cent YoY to Rs 5,651/tonne (up 1.5 per cent QoQ)

Shares of JK Lakshmi Cement moved 6 per cent higher to Rs 662.25 on the BSE in Monday’s intra-day trade due to heavy volumes in an otherwise weak market.

In the past two trading days, the stock of the cement maker has rallied 15 per cent despite the company's weak earnings for the quarter ended September (Q2FY23).

JK Lakshmi Cement is trading close to its 52-week high level of Rs 683.85, which it had touched on September 20, 2022, on hopes of margin improvement going forward. The average trading volumes on the counter more-than-doubled, with a combined around