PI Industries shares drop 1.7% as Sensex falls
The stock quoted a 52-week high of Rs 4032.0 and a 52-week low of Rs 3060.0.
Shares of traded 1.7 per cent lower in Thursday's session at 01:59PM (IST). The stock opened at Rs 3611.15 and has touched an intraday high and low of Rs 3649.05 and Rs 3580.0, respectively, during the session so far.The stock quoted a 52-week high of Rs 4032.0 and a 52-week low of 3060.0. About 5,670 shares changed hands on the counter so far.
Benchmark Nifty50 was down 91.9 points at 22108.65, while the BSE traded 272.36 points lower at 72714.67 at the time of writing of this report.
In the pack, 14 stocks traded the day in the green, while 36 were in the red.
Key Financials
For the quarter ended 31-Dec-2023, the company reported consolidated sales of Rs 1953.6 crore, down 9.71 per cent from the previous quarter's Rs 2163.8 crore and down 17.45 per cent from the year-ago quarter. The company reported net profit of Rs 448.6 crore for the latest quarter.
Promoter Holdings
Promoters held 46.09 per cent stake in the company as of 31-Mar-2024, while FIIs held 20.26 per cent and MFs 14.99 per cent.
Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 3594.13 on May 16, while the 50-DMA was at Rs 3713.15. 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.
Source: Stocks-Markets-Economic Times
