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Andhra Cements Falls Over 5% After Promoter Sells Stake

Sagar Cements Ltd., a promoter company that holds a 95% stake in the company, will shed 5% on Tuesday. 

Ananya Chaudhuri

Image representational. Source: Pexels/ Rodolfo Quirós

Andhra Cements Ltd. declined over 5% to its lowest level in two months after its promoters sold their stake in the company.

Sagar Cements Ltd., a promoter company, shed a 5% stake in the company on Tuesday.

As of December 2023, the promoter company had a 95% stake in Andhra Cements Ltd.

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Shares of the company fell as much as 5.23% to Rs 105.00 apiece, the lowest level since Jan 1. It pared losses to trade 1.44% lower at Rs 109.20 apiece as of 11:23 a.m. This compares to a 0.15% decline in the S&P BSE Sensex.

It has risen 1,828.32% in 12 months. Total traded volume so far in the day stood at 7.2 times its 30-day average. The relative strength index was at 33.29.

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Ananya Chaudhuri
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