Ambuja Cements shares rise 0.64 per cent in Wednesday's trading session

Ambuja Cements shares rise 0.64 per cent in Wednesday's trading session
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Synopsis

The Relative Strength Index of the stock stood at 57.71 on Wednesday.

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Nifty moved in a tight range of 82 points, and ended slightly below the psychologically crucial level of 15,700.
Shares of . rose 0.64 per cent to Rs 508.0 in Wednesday's trade as of 01:24PM (IST) even as the benchmark Nifty ruled at 16981.0, down 26.4 points.

The scrip had closed at Rs 504.75 in the previous session. The stock quoted a 52-week low of Rs 274.0 and a high of Rs 585.45. The company quoted a market-cap of Rs 100563.0 crore on the BSE.

On BSE, 386,865 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 42.48 times its trailing 12-month EPS of Rs 11.92 per share and 2.96 times its book value. The return on equity (ROE) stood at Rs 10.96.

Key Financials
For the quarter ended 30-Jun-2022, Ambuja Cements Ltd. reported consolidated sales of Rs 8165.85 crore, up 15.73 per cent from the same quarter a year ago. The company reported 14.22 per cent YoY de-growth in net profit at Rs 752.0 crore for the latest quarter.

Technical indicators
The relative strength index (RSI) of the stock stood at Wednesday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold 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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