Finance Minister Nirmala Sitharaman on Tuesday said that the government will consider a review of the 28 per cent Goods and Services Tax (GST) levied on cement.
With today's rally, the market price of JK Lakshmi Cement has zoomed 117 per cent from its 52-week low of Rs 368.65, touched on May 12, 2022.
Analysts expect cement stocks to witness catch up activity after months of underperformance as many negatives seem to be priced-in
The stock was trading higher for the third straight day and has gained 6 per cent during this period.
Analysts said the results were better than estimated, mainly driven by better-than- expected realisations that were up around 17 per cent YoY to Rs 5,651/tonne (up 1.5 per cent QoQ)