Shares of Shree Cements fall as Nifty drops

Shares of Shree Cements Ltd. slipped 0.69 per cent to Rs 18360.55 in Thursday's trade as of 01:29PM (IST). It hit a high of Rs 18653.5 and low of Rs 18250.0 during the session.

The stock quoted a 52-week high price of Rs 31441.05 and a low of Rs 17900.0. The return on equity for the stock stood at 13.35 per cent. About 438 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.16.

The scrip has been an underperformer, down 36.39 per cent in the past one year in comparison with a 1.97 per cent fall in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 17900.0 on June 23, while the 50-DMA was at Rs 22383.12. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 62.55 per cent stake in Shree Cements Ltd. as of 31-Mar-2022. Mutual funds and foreign institutional investors held 7.43 per cent and 12.2 per cent stake.