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    Ambuja Cements shares fall 1.1 per cent in Tuesday's trading session

    Synopsis

    The Relative Strength Index of the stock stood at 45.31 on Tuesday.

    tech view 2Shutterstock.com
    RSI has turned north from the 60 level, confirming bullishness.
    Shares of Ambuja Cements Ltd. fell 1.1 per cent to Rs 558.15 in Tuesday's trade as of 01:14PM (IST) even as the benchmark Nifty ruled at 18272.5, down 147.95 points.

    The scrip had closed at Rs 564.35 in the previous session. The stock quoted a 52-week low of Rs 274.0 and a high of Rs 598.15. The company quoted a market-cap of Rs 110719.58 crore on the BSE.

    On BSE, 99,485 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 61.69 times its trailing 12-month EPS of Rs 9.04 per share and 2.96 times its book value. The return on equity (ROE) stood at Rs 10.96.

    Key Financials
    For the quarter ended 30-Sep-2022, Ambuja Cements Ltd. reported consolidated sales of Rs 7244.78 crore, down 7.48 per cent from the same quarter a year ago. The company reported 86.01 per cent YoY de-growth in net profit at Rs 93.18 crore for the latest quarter.

    Technical indicators
    The relative strength index (RSI) of the stock stood at Tuesday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold when it is below 30.

    Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.



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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
    The Economic Times

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