Shares of Ambuja Cements rise as Nifty gains
On the technical charts, the 200-day moving average of the stock stood at Rs 481.25.
Shares of gained 2.07 per cent to Rs 588.7 in Thursday's trade as of 11:47AM (IST). It hit a high of Rs 590.8 and low of Rs 578.55 during the session.The stock quoted a 52-week high price of Rs 624.55 and a low of Rs 354.2. The return on equity for the stock stood at 9.67 per cent. About 45,965 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 1.44.
The scrip has been an outperformer, up 58.72 per cent in the past one year in comparison with a 24.87 per cent gain in .
Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 354.2 on March 21, while the 50-DMA was at Rs 573.53. 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 0.0 per cent stake in as of 31-Dec-2023. Mutual funds and foreign institutional investors held 6.64 per cent and 11.88 per cent stake.
Source: Stocks-Markets-Economic Times
