ACC shares gain 1.4% as Sensex rises
On the technical charts, the RSI of the stock stood at 55.7.
Shares of traded 1.4 per cent up at Rs 2689.6 at 10:15AM (IST) on Thursday, even as benchmark gained 60.33 points to 79985.1.The stock had settled at Rs 2652.25 in the previous session. The stock quoted a 52-week high price of Rs 2843.0 and 52-week low of Rs 1763.25, respectively. As per BSE data, total traded volume on the counter till 10:15AM (IST) stood at 9871 shares with a turnover of Rs 2.68 crore.
At the current price, the stock traded at 21.69 times its trailing 12-month EPS of Rs 124.42 per share and 2.87 times its price-to-book value, exchange data showed.
A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.
Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.31.
Shareholding Details
Promoters held 50.05 per cent stake in the company as of 31-Mar-2024, while FIIs owned 6.18 per cent and DIIs 14.5 per cent.
Technicals
On the technical charts, the relative strength index (RSI) of the stock stood at 55.7. 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. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a'buy' or'sell' recommendation using a single valuation ratio.
Source: Stocks-Markets-Economic Times
