Share price of Ambuja Cements falls as Nifty strengthens
Ambuja Cements Ltd. slipped 2.83 per cent to Rs 660.45 in Thursday's trade as of 01:45PM (IST). The stock hit a high price of Rs 680.95 and low of Rs 655.65 during the session.
The return on equity (ROE) for the stock stood at 9.24 per cent. Traded volume on the counter stood at 01:45PM shares and turnover at Rs 6.93 crore around that time. The stock of Ambuja Cements Ltd. quoted a 52-week high price of Rs 706.85 and 52-week low prices of Rs 404.0, respectively.
The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.44.
Promotor/FII Holding Promoters held 0.0 per cent stake in the company as of 30-Jun-2024, while FIIs held 9.58 per cent and domestic institutional investors had 5.53 per cent.
Key Financials The company reported consolidated sales of Rs 8666.2 crore for the quarter ended 30-Jun-2024, down 5.05 per cent from previous quarter's Rs 9127.45 crore and down 3.45 per cent from the year-ago quarter's Rs 8976.14 crore. Net profit after tax for the latest quarter stood at Rs 646.31 crore, down 28.63 per cent from the same quarter a year ago.
Technicals
The MACD signalled a bearish 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
