Shares of Ambuja Cements fall as Nifty drops

Shares of Ambuja Cements Ltd. slipped 1.07 per cent to Rs 554.25 in Wednesday's trade as of 12:18PM (IST). It hit a high of Rs 564.0 and low of Rs 553.65 during the session.

The stock quoted a 52-week high price of Rs 598.15 and a low of Rs 274.0. The return on equity for the stock stood at 10.96 per cent. About 60,482 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 1.44.

The scrip has been an outperformer, up 53.49 per cent in the past one year in comparison with a 5.66 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 274.0 on December 21, while the 50-DMA was at Rs 552.8. 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 0.0 per cent stake in Ambuja Cements Ltd. as of 30-Sep-2022. Mutual funds and foreign institutional investors held 7.04 per cent and 12.81 per cent stake.