Shree Cements shares drop 0.3% as Sensex rises

economictimes.indiatimes.com:

Shree Cements Ltd. traded 0.3 per cent down at Rs 23958.15 at 11:42AM (IST) on Thursday, even as BSE benchmark Sensex gained 13.47 points to 65100.72.
The scrip had closed at Rs 24030.75 in the previous session.

The stock quoted a 52-week high price of Rs 27013.0 and 52-week low of Rs 20165.8, respectively. As per BSE data, total traded volume on the counter till 11:42AM (IST) stood at 88 shares with a turnover of Rs 2108.0 crore.
At the current price, the stock traded at 55.29 times its trailing 12-month earnings per share of Rs 433.33 per share and 5.07 times its price-to-book value, BSE 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-2023, while FIIs owned 12.62 per cent and DIIs 7.15 per cent.
Technicals On the technical charts, the relative strength index (RSI) of the stock stood at 49.41. 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.