Market

PI Industries shares drop 1.17% as Sensex rises

Shares of Ltd. traded 1.17 per cent lower in Wednesday’s session at 01:11PM (IST). The stock opened at Rs 3057.55 and has touched an intraday high and low of Rs 3064.0 and Rs 2985.0, respectively, during the session so far.

The stock quoted a 52-week high of Rs 3533.3 and a 52-week low of 1982.45. About 77,747 shares changed hands on the counter so far.

Benchmark Nifty50 was up 28.5 points at 18296.90, while the BSE Sensex traded 90.75 points higher at 61441.01 at the time of writing of this report.



In the Nifty pack, 31 stocks traded the day in the green, while 19 were in the red.

Key Financials

For the quarter ended 30-Jun-2021, the company reported consolidated sales of Rs 1221.5 crore, down 1.6 per cent from the previous quarter’s Rs 1241.3 crore and down 14.34 per cent from the year-ago quarter. The company reported net profit of Rs 187.2 crore for the latest quarter.

Promoter Holdings

Promoters held 46.74 per cent stake in the company as of 30-Sep-2021, while FIIs held 24.13 per cent and MFs 13.06 per cent.

Technicals

On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 2737.06 on October 27, while the 50-DMA was at Rs 3247.83. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.

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