Cement News

Sagar Cement spurts over 29% in seven days


Sagar Cements rose 7.78% to Rs 259, extending gains for the seventh trading session.

Shares of Sagar Cements have surged 29.40% in seven sessions. The stock hit a 52-week high of Rs 292 on 7 January 2022. It hit a 52-week low of Rs 155.15 on 21 June 2022.

The stock had outperformed the market over the past one month, soaring 22.79% compared with 2.53% rise in the Sensex.

The scrip outperformed the market in past one quarter, surging 22.79% as against Sensex’s 5.56% rise.

The scrip had underperformed the market in past one year, gaining 6.71% as against Sensex’s 10.12% rise.

On the technical front, the stock’s daily RSI (relative strength index) stood at 83.31. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 204.06, 199.15 and 208.91 respectively. These levels will act as crucial support zones in near term.

Sagar Cements is one of India’s leading cement manufactures with an installed production capacity of 8.25 MTPA.

On a consolidated basis, Sagar Cements reported net loss of Rs 42.25 crore in Q2 September 2022 as against net profit of Rs 21.07 crore in Q2 September 2021. Net sales rose 28.63% YoY to Rs 474.55 crore in Q2 September 2022.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)


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