Shares of Shree Cements fall as Nifty gains

Shares of Shree Cements Ltd. slipped 0.33 per cent to Rs 24800.0 in Friday's trade as of 02:05PM (IST). It hit a high of Rs 24908.25 and low of Rs 24260.0 during the session.

The stock quoted a 52-week high price of Rs 27013.0 and a low of Rs 17900.0. The return on equity for the stock stood at 13.35 per cent. About 741 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.16.

The scrip has been an underperformer, up 9.54 per cent in the past one year in comparison with a 14.22 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 17900.0 on May 12, while the 50-DMA was at Rs 25249.53. If a stock trades well 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 a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 62.55 per cent stake in Shree Cements Ltd. as of 31-Mar-2023. Mutual funds and foreign institutional investors held 6.88 per cent and 12.82 per cent stake.