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Shares of FMCG major hit a 52-week high of Rs 282.35 apiece in May and have risen 23 per cent so far this year. The recent rally in the share prices has been accompanied by an increase in exposure by foreign portfolio investors (FPIs) on the counter after four quarters of selling. Market experts are now overweight on the stock and believe it is in a bull trend and will continue to outperform.

The Relative Strength Index of the stock stood at 51.45 on Thursday.

Sagar Cements Ltd., incorporated in the year 1981, is a Small Cap company (having a market cap of Rs 2377.61 Crore) operating in Cement sector.

Promoters held 74.36 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 15.39 per cent and 3.05 per cent, respectively.

The partially convertible rupee was trading at 77.78/79 per dollar after touching a record low of 77.81. The previous life low of 77.7975 was touched on May 17.

A total of 64,588 shares changed hands on the counter till 12:13PM (IST).

The stock quoted a 52-week high of Rs 7595.25 and a 52-week low of Rs 3733.25.

“The aim of higher interest rates is to slow the economy. Let us be quite clear about this. Do not do it just for the hell of it! You are trying to slow the economy and to that extent, slow demand. What is very clear is that the world over, this is happening and therefore slowing of the economy is not an accident. ”

Promoters held 37.4 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 17.83 per cent and 0.03 per cent, respectively.

BLS has agreed to acquire 100 per cent equity shares of ZMPL for an equity consideration of Rs 120 crore, including an entire stake of 63.94 per cent held by the main promoter Anurag Gupta, reports said.