Shree Cements shares drop 0.19% as Sensex rises
Shree Cements Ltd. traded 0.19 per cent down at Rs 24641.0 at 12:37PM (IST) on Thursday, even as BSE benchmark Sensex gained 429.05 points to 82214.61.
The scrip had closed at Rs 24689.65 in the previous session. The stock quoted a 52-week high price of Rs 30710.15 and 52-week low of Rs 23714.05, respectively. As per BSE data, total traded volume on the counter till 12:37PM (IST) stood at 49 shares with a turnover of Rs 0.13 crore.
At the prevailing price, shares of the company traded at 42.25 times its trailing 12-month EPS of Rs 582.58 per share and 4.48 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 1.16.
Shareholding Details
Promoters held 62.55 per cent stake in the company as of 30-Jun-2024, while FIIs owned 11.85 per cent and DIIs 7.91 per cent.
Technicals On the technical charts, the relative strength index (RSI) of the stock stood at 36.7. 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
