Home Buisness Market Insight Ambuja Cements share price rises as Nifty weakens

Ambuja Cements share price rises as Nifty weakens

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Ambuja Cements share price rises as Nifty weakens

Shares of Ambuja Cements Ltd rose 0.69 percent to Rs. was 589.5. During the session, the stock traded at Rs. 592.9 higher prices and Rs. It touched a low of 586.0.

The return on equity (ROE) for the stock was 9.24 percent. The traded volume on the counter was 10:44AM shares and around that time Rs. 2.03 crore was the turnover. Shares of Ambuja Cements Limited respectively Rs. 706.85 to its 52-week high and Rs. A 52-week low of 404.0 was indicated.

The stock’s beta value, which measures its volatility relative to the broader market, was 1.44.

Promoter/FII holding

Promoters held 0.0 percent stake in the company as on 30-Jun-2024, while foreign investors held 9.58 percent and domestic institutional investors held 5.53 percent.

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    Chief Financial Officer

    For the quarter ended 30-Jun-2024, the company posted Rs. 8666.2 crores, compared to the previous quarter’s Rs. 9127.45 crore by 5.05 percent and the year-ago quarter at Rs. 8976.14 crore was down by 3.45 percent. The net profit after tax in the latest quarter was Rs. 646.31 crore, which was 28.63 percent lower than the same quarter a year ago.

    Technicals
    MACD indicated a bearish bias on the counter. MACD is known for indicating the opposite trend in traded securities or indices.
    It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called a signal line, is plotted above the MACD to reflect “buy” or “sell” opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.

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