Shree Cements shares down 0.57% as Nifty falls
Shree Cements Ltd. rose 0.57 per cent to Rs 23629.05 in Friday's trade. It hit an intraday high of Rs 23800.6 and low of Rs 23629.05, respectively, during the day.
The stock quoted a 52-week high price of Rs 27013.0 and low of Rs 20165.8. As of 11:16AM (IST), the counter saw total traded volume of 60 shares with a traded value of Rs 1423.0 crore, according to NSE. The stock had closed at Rs 23762.7 in the previous session.
The scrip has declined -1.38 per cent in the past one month till date, while the benchmark BSE Sensex has slipped -1.82 per cent during the same period. According to exchange data, the stock traded at a price-to-earnings (P/E) multiple of 54.69 while price-to-book ratio stood at 5.07. A higher P/E ratio shows that 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 it reflects the price investors are ready to pay even for no growth in a business. The stock belongs to the Cement — North industry.Promoter/FII Holding Promoters held 62.55 per cent stake in the company as of 30-Jun-2023, while FII and MF ownership in the firm 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. Its net profit for the latest quarter stood at Rs 572.3 crore, up 104.76 per cent from the same quarter a year ago.
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