Hot Pursuit     27-Jul-12
JK Lakshmi Cement hits 52-week high after strong Q1 results
JK Lakshmi Cement rose 2.35% to Rs 87.05 at 10:52 IST on BSE after net profit jumped 121% to Rs 50.28 crore on 36.1% in growth in net sales to Rs 533.39 crore in Q1 June 2012 over Q1 June 2011.

The company announced the results after market hours on Thursday, 26 July 2012.

Meanwhile, the BSE Sensex was up 227.67 points or 1.37% to 16,867.49.

On BSE, 1.10 lakh shares were traded in the counter as against average daily volume of 65,951 shares in the past one quarter.

The stock hit a high of Rs 91.85 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 86.50 so far during the day.

The stock had outperformed the market over the past one month till 26 July 2012, surging 27.51% compared with the Sensex's 1.58% fall. The scrip had also outperformed the market in past one quarter, jumping 28.77% as against Sensex's 2.87% fall.

Commenting on the Q1 performance, Mrs. Vinita Singhania, Managing Director, JK Lakshmi Cement said, "The increase in the company's volume was greatly aided by the timely commissioning of its grinding unit in Haryana. The company's further expansion plans including its Greenfield project at Durg is making satisfactory progress, which is expected to go on stream by Q3 December 2012".

JK Lakshmi Cement manufactures cement, which it sells under the brand name JK Lakshmi.

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