SRF shares drop 0.57% as Sensex rises
On the technical charts, the RSI of the stock stood at 48.77.
Shares of traded 0.57 per cent down at Rs 2381.0 at 12:13PM (IST) on Wednesday, even as benchmark gained 399.46 points to 79840.91.The scrip had closed at Rs 2394.85 in the previous session. The stock quoted a 52-week high price of Rs 2697.45 and 52-week low of Rs 2050.0, respectively. As per BSE data, total traded volume on the counter till 12:13PM (IST) stood at 11106 shares with a turnover of Rs 2.65 crore.
At the current price, shares of the company traded at 52.83 times its trailing 12-month earnings per share of Rs 45.06 per share and 6.63 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 1.24.
Shareholding Details
Promoters held 50.3 per cent stake in the company as of 31-Mar-2024, while FIIs owned 19.08 per cent and DIIs 8.38 per cent.
Technicals
On the technical charts, the relative strength index (RSI) of the stock stood at 48.77. 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
