Meanwhile, the S&P BSE Sensex was down 143.94 points, or 0.47% to 30,514.83.

On the BSE, 15,000 shares were traded in the counter so far, compared with average daily volumes of 22,622 shares in the past one quarter. The stock had hit a high of Rs 504.95 and a low of Rs 478.55 so far during the day. The stock hit a record high of Rs 535 on 17 May 2017. The stock hit a 52-week low of Rs 326.75 on 21 November 2016.

The stock had outperformed the market over the past one month till 17 May 2017, rising 13.80% compared with 4.57% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 32.69% as against Sensex's 8.33% rise.

The mid-cap company has equity capital of Rs 58.84 crore. Face value per share is Rs 5.

JK Lakshmi Cement reported a net profit of Rs 82 crore in the year ended March 2017 compared with net loss of Rs 6.56 crore in the year ended March 2016. Net sales rose 11.1% to Rs 2910.41 crore in the year ended March 2017 over the year ended March 2016.

Meanwhile, the company said that its board approved raising upto Rs 500 crore by issuing securities, convertible/non-convertible, with or without warrant by any of public and/or private offerings and/or qualified institutions placement or any combination thereof, subject to requisite approval of the shareholders in the ensuing annual general meeting of the company.

JK Lakshmi Cement is a cement manufacturer. It caters to infrastructure and construction sectors.