Shree Cements shares up 1.58% as Sensex rises

Shares of Shree Cements Ltd. gained 1.58 per cent to Rs 25150.0 in Friday's session as of 01:33PM (IST) even as the equity benchmark Sensex traded 238.42 points higher at 59273.37.

Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 32050.0 and a 52-week low of Rs 21667.5 on NSE. Around 727 shares changed hands on the counter till 01:33PM (IST).

The stock opened at Rs 24700.0 and has touched an intraday high and low of Rs 25150.0 and Rs 24640.0 during the session so far. The scrip quoted a price-to-earnings (PE) ratio of 36.59, earnings per share (EPS) of Rs 685.44 and price to book value (PB) of 6.91, while the return on equity (ROE) stood at Rs 14.84.

Promoter/ FII Holding
The promoters held 62.55 per cent stake in the company as of April 08, while FII and MF ownerships stood at 13.05 per cent and 7.74 per cent, respectively.

Key Financials
With a market capitalisation of Rs 90501.34 crore, the company operates in the Cement - North industry. For the quarter ended 31-Dec-2021, the company reported consolidated sales of Rs 3750.96 crore, up 6.35 per cent from the previous quarter?s Rs 3526.95 crore and up 2.78 per cent from the same quarter a year ago. The company reported net profit of Rs 481.97 crore for the latest quarter, down 23.6 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 62.41. 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.