JK Laksmi Cement is in the limelight today following its exuberant performance for Q2FY15. The stock, which closed yesterday at Rs359.80, opened today at Rs.373.90 and went on to hit a new high at Rs.383.05. The stock remains almost 5% higher, with robust volumes.

The company, for Q2FY15, thanks to better realisations and increased volume, showed a 210% (YoY) jump in net profit at Rs.31 crore and on a 27% jump in net sales at Rs.573 crore. Operating profit was up from Rs.65 crore to Rs.90 crore. Production during the quarter rose 11% at 13.53 lakh tones and volumes rose 13%. The company has also provided Rs.5 crore, an exceptional expense, which is towards demand notice from the sales tax department. The company feels that it has a strong case and matter would be decided in its favour, yet this provision is cautionary.