Shree Cements shares up 0.78% as Sensex falls

Shares of Shree Cements Ltd. gained 0.78 per cent to Rs 25490.0 in Thursday's session as of 12:15PM (IST) even as the equity benchmark Sensex traded 105.62 points lower at 57450.28.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 27013.0 and a 52-week low of Rs 17900.0 on NSE. Around 232 shares changed hands on the counter till 12:15PM (IST).

The stock opened at Rs 25418.5 and has touched an intraday high and low of Rs 25490.0 and Rs 25050.0 during the session so far. The scrip quoted a price-to-earnings (PE) ratio of 65.53, earnings per share (EPS) of Rs 388.62 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 March 16, while FII and MF ownerships stood at 12.5 per cent and 6.88 per cent, respectively.

Key Financials
With a market capitalisation of Rs 91885.94 crore, the company operates in the Cement - North industry. For the quarter ended 31-Dec-2022, the company reported consolidated sales of Rs 4473.38 crore, up 6.58 per cent from the previous quarter?s Rs 4197.37 crore and up 19.26 per cent from the same quarter a year ago. The company reported net profit of Rs 282.07 crore for the latest quarter, down 41.48 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 51.49. 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.