Shares of Shree Cements fall as Nifty gains
On the technical charts, the 200-day moving average of the stock stood at Rs 26083.18.
Shares of slipped 1.55 per cent to Rs 25847.45 in Tuesday's trade as of 01:38PM (IST). It hit a high of Rs 26197.35 and low of Rs 25738.15 during the session.The stock quoted a 52-week high price of Rs 30710.15 and a low of Rs 22601.3. The return on equity for the stock stood at 11.57 per cent. About 304 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 1.16.
The scrip has been an underperformer, up 6.08 per cent in the past one year in comparison with a 20.34 per cent gain in .
Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 22601.3 on May 21, while the 50-DMA was at Rs 25314.1. 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 62.55 per cent stake in as of 31-Mar-2024. Mutual funds and foreign institutional investors held 7.55 per cent and 12.48 per cent stake.
Source: Stocks-Markets-Economic Times
