Shree Cements shares gain 0.55% as Sensex rises

Shares of Ltd. traded 0.55 per cent higher in Thursday's session at 01:09PM (IST). The stock opened at Rs 26297.85 and has touched an intraday high and low of Rs 26362.1 and Rs 25880.0, respectively, during the session so far.

The stock quoted a 52-week high of Rs 32050.0 and a 52-week low of 22600.0. About 324 shares changed hands on the counter so far.

Benchmark Nifty50 was up 43.5 points at 17513.25, while the BSE Sensex traded 158.72 points higher at 58808.4 at the time of writing of this report.

In the Nifty pack, 28 stocks traded the day in the green, while 21 were in the red.


Key Financials
For the quarter ended 30-Sep-2021, the company reported consolidated sales of Rs 3526.95 crore, down 6.59 per cent from the previous quarter's Rs 3775.94 crore and down 5.18 per cent from the year-ago quarter. The company reported net profit of Rs 562.83 crore for the latest quarter.

Promoter Holdings
Promoters held 62.55 per cent stake in the company as of 30-Sep-2021, while FIIs held 13.53 per cent and MFs 7.64 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 28143.29 on December 09, while the 50-DMA was at Rs 27810.99. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.