Ambuja Cements shares gain 3.36% as Sensex falls

Shares of Ambuja Cements Ltd. traded 3.36 per cent higher in Tuesday's session at 10:00AM (IST). The stock opened at Rs 440.6 and has touched an intraday high and low of Rs 456.7 and Rs 440.55, respectively, during the session so far.

The stock quoted a 52-week high of Rs 598.15 and a 52-week low of 315.3. About 138,680 shares changed hands on the counter so far.

Benchmark Nifty50 was down 8.25 points at 18585.6, while the BSE Sensex traded 49.74 points lower at 62737.73 at the time of writing of this report.

In the Nifty pack, 31 stocks traded the day in the green, while 19 were in the red.


Key Financials
For the quarter ended 31-Mar-2023, the company reported consolidated sales of Rs 8250.45 crore, up 2.66 per cent from the previous quarter's Rs 8036.46 crore and up 3.26 per cent from the year-ago quarter. The company reported net profit of Rs 644.94 crore for the latest quarter.

Promoter Holdings
Promoters held 63.22 per cent stake in the company as of 31-Mar-2023, while FIIs held 11.16 per cent and MFs 5.8 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 458.6 on June 06, while the 50-DMA was at Rs 398.0. 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.