Ambuja Cements shares drop 5.15% as Sensex falls

Shares of Ambuja Cements Ltd. traded 5.15 per cent lower in Wednesday’s session at 02:07PM (IST). The stock opened at Rs 523.25 and has touched an intraday high and low of Rs 526.0 and Rs 495.0, respectively, during the session so far.

The stock quoted a 52-week high of Rs 583.55 and a 52-week low of 315.3. About 154,532 shares changed hands on the counter so far.

Benchmark Nifty50 was down 146.75 points at 21306.35, while the BSE Sensex traded 583.67 points lower at 70853.52 at the time of writing of this report.

In the Nifty pack, 8 stocks traded the day in the green, while 42 were in the red.

Key Financials

For the quarter ended 30-Sep-2023, the company reported consolidated sales of Rs 7899.99 crore, down 11.99 per cent from the previous quarter’s Rs 8976.14 crore and down 9.04 per cent from the year-ago quarter. The company reported net profit of Rs 792.96 crore for the latest quarter.

Promoter Holdings
Promoters held 63.19 per cent stake in the company as of 30-Sep-2023, while FIIs held 11.65 per cent and MFs 6.46 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 426.32 on December 20, while the 50-DMA was at Rs 446.56. If a stock trades 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 as bearish trend and if trades between these averages, then it suggests the stock can go either way.