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When the stock prices move up and open interest on the counter also moves upward, it is taken as a sign of a long buildup. The signal is considered more reliable if the volume on the counter has also seen an increase.
KLL expands operations in Varanasi and Madhya Pradesh
The company has planned capex of ₹1,200 crore in FY24, ₹2,200 crore in FY25, and ₹1,800 crore in FY26. At the end of December 2023, its gross debt stood at ₹4,585 crore, and this is expected to peak at ₹5,600 crore by FY26.
On the options front, the maximum Call OI is placed at 22,500 and then towards 22,300 strikes while the maximum Put OI is placed at 22,000 and then towards 21,900 strikes.
Motilal Oswal is bullish on JK Cement recommended buy rating on the stock with a target price of Rs 5050 in its research report dated February 26, 2024.