Hot Pursuit     03-Feb-12
JK Lakshmi Cement jumps as board to consider share buyback
JK Lakshmi Cement surged 7.64% to Rs 52.10 at 9:25 IST on BSE after the company said its board of directors will meet on 7 February 2012 to consider and approve a proposal for buyback of the company's equity shares.

The company made this announcement after market hours on Thursday, 2 February 2012.

Meanwhile, the BSE Sensex was up 26.06 points, or 0.15% to 17,457.91.

On BSE, 67,000 shares were traded in the counter as against an average daily volume of 24,629 shares in the past one quarter.

The stock hit a high of Rs 55 and a low of Rs 50.20 so far during the day. The stock hit a 52-week low of Rs 35.50 on 26 August 2011. The stock had hit a 52-week high of Rs 56.80 on 7 April 2011.

The stock had outperformed the market over the past one month till 2 February 2012, surging 28.55% compared with the Sensex's 12.33% return. The scrip had also outperformed the market in past one quarter, rising 10% as against 0.19% decline in the Sensex.

The small-cap cement maker has an equity capital of Rs 61.18 crore. Face value per share is Rs 5.

JK Lakshmi Cement announces Q3 December 2011 results on 7 February 2012. The company's net profit rose 12.7% to Rs 6.49 crore on 33.2% growth in net sales to Rs 354.13 crore in Q2 September 2011 over Q2 September 2010.

JK Lakshmi Cement is a cement producer with over 2,200 dealers spread across Rajasthan, Gujarat, Delhi, Haryana, Uttar Pradesh, Uttaranchal, Punjab, J&K, Mumbai and Pune.

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