Cement News

Shree Cements Share Price: Shree Cements shares down 4.34% as Sensex falls

Shares of . fell 4.34 per cent to Rs 22222.0 in Wednesday’s session as of 02:06PM (IST) even as the equity benchmark Sensex traded 95.71 points lower at 59624.03.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 30335.0 and a 52-week low of Rs 17900.0 on NSE. Around 2047 shares changed hands on the counter till 02:06PM (IST).

The stock opened at Rs 23251.05 and has touched an intraday high and low of Rs 23420.0 and Rs 22184.35 during the session so far. The counter quoted a price-to-earnings (PE) ratio of 40.58, earnings per share (EPS) of Rs 549.2 and price to book value (PB) of 4.96, while the return on equity (ROE) stood at Rs 13.35.

Promoter/ FII Holding
The promoters held 62.55 per cent stake in the company as of September 21, while FII and MF ownerships stood at 11.85 per cent and 7.07 per cent, respectively.

Key Financials

With a market capitalisation of Rs 80409.55 crore, the company operates in the Cement – North industry. For the quarter ended 30-Jun-2022, the company reported consolidated sales of Rs 4394.75 crore, down 2.37 per cent from the previous quarter?s Rs 4501.6 crore and down 16.39 per cent from the same quarter a year ago. The company reported net profit of Rs 279.5 crore for the latest quarter, down 55.63 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 47.05. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a “buy” or “sell” recommendation using a single valuation ratio.

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