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    Shree Cements shares fall 2.06% as Nifty drops

    Synopsis

    The stock quoted a 52-week high price of Rs 26332.9 and a 52-week low of Rs 17900.0.

    NiftyGetty Images
    Nagaraj Shetti, Technical Research Analyst at HDFC Securities, believes Monday's pattern could be considered as a High Wave, which reflects high volatility in the market at swing highs.
    Shares of Shree Cements Ltd. traded 2.06 per cent down at Rs 22600.0 on Tuesday at around 02:15PM (IST), while the benchmark BSE Sensex advanced 15.64 points to 60957.31.

    As many as 1,114 shares changed hands on the counter with a total value of Rs 2.53 crore.

    The stock quoted a 52-week high price of Rs 26332.9 and a 52-week low of Rs 17900.0.

    On the technical charts, the 200-DMA of the stock stood at Rs 22271.08, while 50-DMA was at Rs 23760.37. 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 7.15 per cent in the past one year, while Sensex has risen 3.25 per cent during the same period.

    According to BSE data, the stock trades at a price-to-earnings multiple of 50.9 and a price-to-book ratio of 4.96. 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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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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