Ambuja Cements shares up 0.9% as Sensex rises

Shares of Ltd. gained 0.9 per cent to Rs 309.15 in Wednesday’s session as of 01:43PM (IST) even as the equity benchmark Sensex traded 735.48 points higher at 49679.62.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 329.9 and a 52-week low of Rs 161.55 on NSE. Around 196507 shares changed hands on the counter till 01:43PM (IST).

The stock opened at Rs 309.0 and has touched an intraday high and low of Rs 310.4 and Rs 304.45 during the session so far. The scrip quoted a price-to-earnings (PE) ratio of 25.97, earnings per share (EPS) of Rs 11.91 and price to book value (PB) of 2.17, while the return on equity (ROE) stood at Rs 10.39.

Promoter/ FII Holding
The promoters held 63.29 per cent stake in the company as of April 28, while FII and MF ownerships stood at 17.75 per cent and 4.91 per cent, respectively.

Key Financials

With a market capitalisation of Rs 61435.86 crore, the company operates in the Cement – Pan India industry. For the quarter ended 31-Dec-2020, the company reported consolidated sales of Rs 7552.73 crore, up 20.52 per cent from the previous quarter?s Rs 6266.55 crore and up 4.58 per cent from the same quarter a year ago. The company reported net profit of Rs 732.24 crore for the latest quarter, up 23.79 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 57.97. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition 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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