MARKETS

Sagar Cement Soars Over 29% in Seven Days

Net sales of Sagar Cement rose at 28.63% on YoY.

Sagar Cements hit a high of 7.78% to Rs 259 for the seventh trading session.

In seven trading sessions, Sagar Cements have surged 29.40%. On January 7 2022, the stock hit a 52-week high of Rs 292, whereas on June 21 2022, the stock hit a 52-week low of Rs 155.15.

The stock had outperformed the market over November 22, soaring 22.79% compared with a 2.53% rise in the Sensex. The scrip outperformed the market in the second quarter, surging 22.79% compared to Sensex’s 5.56% rise.

The scrip underperformed the market in 2021, gaining 6.71% compared to Sensex’s 10.12% rise.

The stock was trading above its 50-day simple moving average (SMA), placed at 204.06,100-day simple moving average (SMA) set at 199.15, and the 200-day simple moving average (SMA) put at 208.91.

This cement manufacturer’s company has an installed production capacity of 8.25 MTPA.

The net loss of Rs 42.25 crore in the second quarter of FY23 compared to a net profit of Rs 21.07 crore in the second quarter of FY22. Net sales hit a high at 28.63% yearly to Rs 474.55 crore in the second quarter of FY22.

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