Shares of ITD Cementation India Ltd soared 20 per cent in Friday's trade to touch their upper price band of Rs 565.60. The stock was last seen trading 18.29 per cent higher at Rs 557.55. At this price, it has gained 92.03 per cent on a year-to-date (YTD) basis.
Stock exchanges BSE and NSE today sought clarification from the construction firm over a news report titled "ITD Cementation shares gain 11% on Adani Group acquisition news". The reply is awaited.
The counter saw heavy trading volume on BSE as around 6.30 lakh shares changed hands at the time of writing this story. The figure was higher than the two-week average volume of 71,000 shares. Turnover on the counter came at Rs 34.19 crore, commanding a market capitalisation (m-cap) of Rs 9,628.69 crore. There were 33,568 buy orders as against sell orders of 6,671 shares.
The counter traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The counter's 14-day relative strength index (RSI) came at 61.91. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The company's stock has a price-to-equity (P/E) ratio of 25.17 against a price-to-book (P/B) value of 5.42. Earnings per share (EPS) stood at 18.73 with a return on equity of (RoE) 21.54.
The company established its operations in India in 1931 as a branch of The Cementation Company Ltd, UK, a member of Trafalgar House Group of London.
Meanwhile, Indian equity benchmarks extended their record run today, led by gains across all sectors. Broader market stocks (mid- and small-cap shares) were also positive.