JK Lakshmi Cement shares will be in focus on Wednesday after the company received a Rs 45.6 crore demand from the Income Tax Department for the assessment year 2022-23. The firm disclosed in a regulatory filing that it received the assessment order on March 18, 2025.

"In the said order, the income tax officer has made certain additions to the company’s declared income, resulting in an aggregate demand of Rs 4,559.60 lakh," the company stated.

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JK Lakshmi Cement said it will file an appeal against the order before the appropriate authorities.

Based on a preliminary assessment, the company believes the demand is fallacious, legally untenable, and likely to be set aside in the course of proceedings.

The company also clarified that it does not anticipate any material impact on its financial, operational, or other activities.

According to Trendlyne data, the stock's average target price is Rs 885, indicating an 18% upside from current market levels. The consensus recommendation from 16 analysts is a ‘Buy’.

Technically, the stock's Relative Strength Index (RSI) stands at 54.5. According to Trendlyne, an RSI below 30 indicates oversold conditions, while above 70 signals overbought territory.

Additionally, the MACD is at -17.5, which is below its center line, signaling a bearish trend.

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The stock is trading below its 50-day, 100-day, 150-day, and 200-day SMAs, but remains above its 5-day, 10-day, 20-day, and 30-day SMAs.

On Tuesday, JK Lakshmi Cement shares closed at Rs 750, up 1.2% on the BSE, while the benchmark Sensex surged 1.53%. The stock has declined 10% year-to-date and 15% in the last three months. The company’s market capitalization stands at Rs 8,825 crore.

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