Share price of Shree Cements jumps as Sensex gains 442.48 points

economictimes.indiatimes.com:

Shree Cements Ltd. gained 0.48 per cent to Rs 24217.85 at 12:43PM (IST) in Friday's trade. The counter has hit a high of Rs 24290.0 and low of Rs 24019.45 so far during the session.

The stock had closed at Rs 24103.6 in the previous session. The counter has had a total traded volume of 77 shares so far with a value of Rs 1863.0 crore on the NSE. It traded at a price-to-earnings multiple of 55.89 and a price-to-book ratio of 5.07.

A higher P/E ratio shows investors are willing to pay a higher price for per rupee earnings given by the stock because of better future growth expectations. The price-to-book value indicates the inherent value of a company and reflects the price investors are willing to pay even for no growth in the business. The scrip gained 17.14 per cent during the past one year, while the 30-share index advanced 13.03 per cent during the same period.

Shree Cements Ltd. belongs to the Cement — North industry.Promotor/FII Holding Promoters held 62.55 per cent stake in the company as of 30-Jun-2023, while overseas investors and domestic institutional investors ownership stood at 12.62 per cent and 7.15 per cent, respectively.Key Financials The company reported consolidated sales of Rs 5233.9 crore for the quarter ended 30-Jun-2023, down 0.23 per cent from the previous quarter's Rs 5245.91 crore and down 19.09 per cent from the year-ago quarter's Rs 4394.75 crore. Profit for the latest quarter stood at Rs 572.3 crore, up 104.76 per cent from the same quarter a year ago.