JK Lakshmi Cement - 3QFY17 Result Update - Better Operating Performance on Cost Savings - Reliance Securities

Given the initiatives undertaken to improve Eastern operations by means of railway siding, WHRS, CPPs, commissioning of conveyor belt, we expect JKLC's operating performance to witness meaningful improvement from FY18E onwards. We reiterate our BUY recommendation on the stock with a downwardly revised Target Price of Rs470 (8.5x FY19E EBITDA).

Shares of JK LAKSHMI CEMENT LTD. was last trading in BSE at Rs.387.85 as compared to the previous close of Rs. 381. The total number of shares traded during the day was 22062 in over 730 trades.

The stock hit an intraday high of Rs. 391 and intraday low of 381.95. The net turnover during the day was Rs. 8573287.

Source : Equity Bulls

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