JK Lakshmi Cement Shares Hit Three-Month High After Q2 Profit Jump

Shares of JK Lakshmi Cement Ltd. hit a three month high on Friday after its profit jumped in the second quarter.

Shares of the company rose as much as 6.78%, the most since July 3, before paring gains to trade 5.53% higher at 9:54 a.m. This compares to a 0.59% advance in the NSE Nifty 50.

The stock has fallen 12.79% on a year-to-date basis. Total traded volume so far in the day stood at 47 times its 30-day average. The relative strength index was at 64.7.

Of the 20 analysts tracking the company, 15 maintain a 'buy' rating, three recommend a 'hold,' and two suggest a 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 5.1%.