India: Sagar Cements’ stock jumps Rs15.2 (9.0%) on extraordinary volume

India: Sagar Cements’ stock jumps Rs15.2 (9.0%) on extraordinary volume
Published: 05 October 2007

India: Sagar Cements’ stock jumps Rs15.2 (9.0%) to Rs185. The volume was 35.0 times normal trading of 8,838. The stock rose for a fourth consecutive day on Friday, its third such streak in the last three months.

TRADING FLOOR NEWS

The price is at a premium of 17.0% to the 1-month volume weighted average price of Rs157.51. Since open its percentile rank in the NSE market was 99.0.


PRICE-VOLUME DYNAMICS

The stock traded between an intraday low of Rs168.5 and a high of Rs187. Intraday volatility (highest price minus lowest price/lowest price) of 11% was 9 times average daily volatility of 1%. The price range has expanded in the last two days (from Rs12.95 two days ago to Rs18.50 today) which, accompanied by a price rise, is a bullish signal.

In the NSE market of 1,298 stocks it has a 6-month relative strength of 78.2 indicating it has outperformed 78.2% of the market.There were 313,338 shares worth Rs5.4 crores ($US1 million) traded.

The last price was at a discount of 1.1% to the 12-month high of Rs187 and a premium of 67.6% to the 12-month low of Rs110.The turnover rate in the 12 months to date was 14.0% (or a turnover period of 7 years, 2 months).

This average length of ownership of the stock at 3.9 times the average holding period of 1 year, 10 months for stocks in the CNX500 suggests a larger number of core investors, making a long-term investment safer.