Share price of Shree Cements rises as Nifty weakens

Shares of Shree Cements Ltd. gained 1.64 per cent to Rs 26377.9 in Friday's trade as of 12:12PM (IST). The stock hit a high price of Rs 26385.35 and low of Rs 25792.85 during the session.

The return on equity (ROE) for the stock stood at 6.81 per cent. Traded volume on the counter stood at 12:12PM shares and turnover at Rs 1.25 crore around that time. The stock of Shree Cements Ltd. quoted a 52-week high price of Rs 27284.85 and 52-week low prices of Rs 21433.25, respectively.

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

Promotor/FII Holding
Promoters held 62.55 per cent stake in the company as of 30-Sep-2023, while FIIs held 12.21 per cent and domestic institutional investors had 7.68 per cent.

Key Financials
The company reported consolidated sales of Rs 4932.11 crore for the quarter ended 30-Sep-2023, down 5.77 per cent from previous quarter's Rs 5233.9 crore and down 17.5 per cent from the year-ago quarter's Rs 4197.37 crore. Net profit after tax for the latest quarter stood at Rs 446.63 crore, up 143.58 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bullish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.
It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect "buy" or "sell" opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.