Ambuja Cements shares rise 0.95 per cent in Tuesday's trading session

SECTIONSAmbuja Cements shares rise 0.95 per cent in Tuesday's trading sessionETMarkets.comLast Updated: Feb 06, 2024, 01:09:00 PM ISTRate StoryFollow usShareFont SizeAbcSmallAbcMediumAbcLargeSavePrintCommentSynopsis

The Relative Strength Index of the stock stood at 59.74 on Tuesday.

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Shares of Ambuja Cements Ltd. rose 0.95 per cent to Rs 559.15 in Tuesday's trade as of 01:09PM (IST) even as the benchmark Nifty ruled at 21904.35, up 132.65 points.

The scrip had closed at Rs 553.85 in the previous session. The stock quoted a 52-week low of Rs 324.3 and a high of Rs 586.0. The company quoted a market-cap of Rs 110888.36 crore on the BSE.

On BSE, 71,494 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 35.02 times its trailing 12-month EPS of Rs 15.95 per share and 2.29 times its book value. The return on equity (ROE) stood at Rs 9.67.

Key Financials
For the quarter ended 31-Dec-2023, Ambuja Cements Ltd. reported consolidated sales of Rs 8322.45 crore, up 3.56 per cent from the same quarter a year ago. The company reported 89.46 per cent YoY growth in net profit at Rs 823.05 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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