Shree Cements shares gain 0.63% as Sensex falls

Shares of Shree Cements Ltd. traded 0.63 per cent higher in Wednesday's session at 10:10AM (IST). The stock opened at Rs 19151.05 and has touched an intraday high and low of Rs 19448.95 and Rs 19095.6, respectively, during the session so far.

The stock quoted a 52-week high of Rs 31441.05 and a 52-week low of 17900.0. About 152 shares changed hands on the counter so far.

Benchmark Nifty50 was down 100.45 points at 15749.75, while the BSE Sensex traded 332.26 points lower at 52845.19 at the time of writing of this report.

In the Nifty pack, 8 stocks traded the day in the green, while 42 were in the red.


Key Financials
For the quarter ended 31-Mar-2022, the company reported consolidated sales of Rs 4501.6 crore, up 20.01 per cent from the previous quarter's Rs 3750.96 crore and up 3.88 per cent from the year-ago quarter. The company reported net profit of Rs 657.24 crore for the latest quarter.

Promoter Holdings
Promoters held 62.55 per cent stake in the company as of 31-Mar-2022, while FIIs held 12.2 per cent and MFs 7.43 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 25230.44 on June 29, while the 50-DMA was at Rs 21899.72. If a stock trades 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 as bearish trend and if trades between these averages, then it suggests the stock can go either way.