Buy JK Lakshmi Cement, target price Rs 360: Motilal Oswal

Motilal Oswal has given a buy rating to JK Lakshmi Cement with a target price of Rs 360. The share price moved down by 0.09 per cent from its previous close of Rs 341.10. The stock’s last traded price is Rs 340.80.

JK Lakshmi Cement Ltd., incorporated in the year 1938, is a Mid Cap company (having a market cap of Rs 3990.19 Crore) operating in Cement sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1131.74 Crore, up 24.16 % from last quarter Sales of Rs 911.54 Crore and up 11.79 % from last year same quarter Sales of Rs 1012.36 Crore Company reported net profit after tax of Rs 92.95 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 46.2 per cent stake in the company as of June 30, 2020, while FIIs held 10.4 per cent, DIIs 16.8 per cent and public and others 26.6 per cent.