Shares of Shree Cements have witnessed a significant rise as the Nifty index experiences gains. This article provides an overview of the recent performance of Shree Cements, along with key metrics and technical analysis. Additionally, it highlights the stake holdings of promoters and other institutional investors.
Shree Cements Stock Performance:
During Tuesday’s trade, Shree Cements Ltd. recorded a gain of 0.99% and reached a price of Rs 27,886.85 as of 10:25 AM (IST). The stock touched a high of Rs 27,979.50 and a low of Rs 27,016.00 during the session. Shree Cements has exhibited a strong performance, with a year-on-year increase of 20.85%, outperforming the Sensex’s gain of 18.05%.
Technical Analysis and Trends:
The stock’s beta value, indicating its volatility in relation to the broader market, is recorded at 1.16. As of January 23, the 200-day moving average (DMA) stood at Rs 21,433.25, while the 50-DMA was at Rs 27,371.48. When a stock consistently trades above both the 50-DMA and 200-DMA, it suggests an upward trend. Conversely, if the stock trades below both averages, it indicates a bearish trend. If the stock’s trading falls between these averages, it implies that the stock’s direction could go either way.
Promoter and Institutional Holdings:
As of December 31, 2023, promoters held a stake of 62.55% in Shree Cements Ltd. Mutual funds and foreign institutional investors (FIIs) held stakes of 7.72% and 12.3% respectively in the company.
FAQs:
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- The current share price of Shree Cements is Rs 27,886.85.
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How has Shree Cements performed compared to the market?
- Shree Cements has outperformed the Sensex, recording a year-on-year increase of 20.85%.
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What are the technical indicators for Shree Cements?
- The stock’s 200-day moving average is Rs 21,433.25, while the 50-DMA is Rs 27,371.48.
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Who are the major stakeholders in Shree Cements?
- Promoters hold a stake of 62.55%, while mutual funds and foreign institutional investors hold stakes of 7.72% and 12.3% respectively.
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Is Shree Cements considered a volatile stock?
- Shree Cements has a beta value of 1.16, indicating moderate volatility.
Conclusion:
Shree Cements’ share price has witnessed a rise in line with the gains observed in the Nifty index. The stock has displayed a strong performance and has outperformed the broader market. The technical analysis suggests an upward trend in the immediate future. Furthermore, the significant stake held by promoters reflects their confidence in the company. Investors and market participants should closely monitor the performance of Shree Cements in the coming days.