JK Lakshmi Cement share price up 11% as Gujarat units resume work

JK Lakshmi Cement

JK Lakshmi Cement share price jumped 11 percent intraday on April 17 after its grinding units in Gujarat resumed some operations.

The stock has been seeing consistent buying interest, rallying 24 percent in the last seven trading sessions. It was trading at Rs 215.55, up Rs 12.95 or 6.39 percent, on the BSE at 1257 hours.

“On the basis of permission received from the government of Gujarat, the company’s grinding units at Kalol and Surat have become partially operational,” the cement-maker said in a BSE filing on April 16.

“We have taken all necessary safety measures for the workmen and employees working there,” it added.

The company’s integrated plant at Sirohi (Rajasthan) and grinding units at Jharli (Haryana), Cuttack (Odisha) and Kalol and Surat (Gujarat) had been temporarily closed since March 24 as the country locked down to contain the spread of coronavirus.

The nationwide lockdown has been extended to May 3 but some business activities have been allowed with minimum staff.

News Source:- moneycontrol

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