Ambuja Cements shares drop 1.13% as Sensex falls

Shares of Ambuja Cements Ltd. traded 1.13 per cent lower in Wednesday's session at 01:09PM (IST). The stock opened at Rs 440.05 and has touched an intraday high and low of Rs 441.9 and Rs 434.0, 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 48,716 shares changed hands on the counter so far.

Benchmark Nifty50 was down 63.6 points at 19511.3, while the BSE Sensex traded 211.41 points lower at 65568.85 at the time of writing of this report.

In the Nifty pack, 15 stocks traded the day in the green, while 34 were in the red.


Key Financials
For the quarter ended 30-Jun-2023, the company reported consolidated sales of Rs 8976.14 crore, up 8.8 per cent from the previous quarter's Rs 8250.45 crore and up 9.92 per cent from the year-ago quarter. The company reported net profit of Rs 905.61 crore for the latest quarter.

Promoter Holdings
Promoters held 63.2 per cent stake in the company as of 30-Jun-2023, while FIIs held 12.45 per cent and MFs 5.58 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 441.33 on September 06, while the 50-DMA was at Rs 440.59. 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.