Shree Cements Share Price: Shree Cements shares drop 0.77% as Sensex falls

Shares of Shree Cements Ltd. traded 0.77 per cent down at Rs 28000.0 at 01:50PM (IST) on Friday, even as BSE benchmark Sensex dropped 79.99 points to 70785.11.

The scrip had closed at Rs 28219.95 in the previous session. The stock quoted a 52-week high price of Rs 28950.0 and 52-week low of Rs 21433.25, respectively. As per BSE data, total traded volume on the counter till 01:50PM (IST) stood at 246 shares with a turnover of Rs 0.7 crore.

At the current price, shares of the company traded at 55.3 times its trailing 12-month EPS of Rs 506.3 per share and 5.07 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-Sep-2023, while FIIs owned 12.21 per cent and DIIs 7.68 per cent. Technicals
On the technical charts, the relative strength index (RSI) of the stock stood at 57.13. 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.

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