Hot Pursuit     04-Feb-10
JK Lakshmi Cement slips on profit taking
JK Lakshmi Cement slipped 2.50% to Rs 74 at 15:18 IST on BSE, on profit booking after the stock gained more than 15% in the preceding four sessions.

Meanwhile, the BSE Sensex was down 299.90 points, or 1.82% to 16,196.15.

On BSE, 67,063 shares were traded in the counter as against an average daily volume of 1.25 lakh shares in the past one quarter.

The stock hit a high of Rs 76.40 and a low of Rs 73.75 so far during the day. The stock had hit a 52-week high of Rs 84.85 on 19 January 2010 and a 52-week low of Rs 17.40 on 3 March 2009.

The stock had risen 15.53% in just four trading sessions to Rs 75.90 on 3 February 2010 from a recent low of Rs 65.70 on 28 January 2010.

The small-cap stock had outperformed the market over the past one month till 3 February 2010, declining 0.46% as compared to the Sensex's 5.55% fall. It had also outperformed the market in the past one quarter, rising 21.15% as compared to the Sensex's return of 7.08%.

The company's equity capital is Rs 61.18 crore. Face value per share is Rs 5.

The current price of Rs 74 discounts the company's Q3 December 2009 annualized EPS of Rs 14.82, by a PE multiple of 4.99.

The company's cement shipments rose 38.25% to 5.06 lakh tonnes in January 2010 over January 2009.

JK Lakshmi Cement's net profit declined 19.1% to Rs 45.35 crore on 18.8% rise in net sales to Rs 353.24 crore in Q3 December 2009 over Q3 December 2008.

JK Lakshmi Cement manufactures and markets cement in India.

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