Sagar Cements stock, on Wednesday, ended relatively stronger in trade and it was a relative outperformer.
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The stock has seen a correction of close to around 20 percent from the highs that were seen in August 2021, though from the lows, the stock has bounced up close to around 20 percent and that is in the last one month or so.
On Wednesday the stock closed at around 100 day moving average (DMA) or thereabouts and in terms of delivery as well, it was much higher than was normally seen.
Tomorrow, there is a board meeting and the management is going to be considering a preference issuance.
The Street is relatively positive on the stock because they have mentioned in the past conference call that they are sitting on higher inventory that is low cost coal inventory and also they are getting the higher amount from the linkage coal.
Watch the accompanying video of CNBC-TV18’s Nigel D’Souza for more details.
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