Shree Cements shares fall 0.99% as Nifty drops
Shree Cements Ltd. traded 0.99 per cent down at Rs 26153.15 on Thursday at around 11:36AM (IST), while the benchmark BSE Sensex declined 259.89 points to 65858.8.
As many as 473 shares changed hands on the counter with a total value of Rs 1.24 crore.
The stock quoted a 52-week high price of Rs 27100.0 and a 52-week low of Rs 20165.8.
On the technical charts, the 200-DMA of the stock stood at Rs 24690.94, while 50-DMA was at Rs 24687.45. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up.
On the other hand, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend and if it trades between 50DMA and 200DMA, then it suggests the stock can go anywhere.
Shares of the company have advanced 25.42 per cent in the past one year, while Sensex has risen 15.24 per cent during the same period.
According to BSE data, the stock trades at a price-to-earnings multiple of 60.39 and a price-to-book ratio of 5.07.
A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price to book value indicates the inherent value of a company and reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to the Cement — North industry.
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