PI Industries shares down 1.2% as Sensex falls

Shares of PI Industries Ltd. fell 1.2 per cent to Rs 3363.9 in Wednesday's session as of 01:29PM (IST) even as the equity benchmark Sensex traded 463.2 points lower at 64108.68.

Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 4010.0 and a 52-week low of Rs 2870.0 on NSE. Around 3659 shares changed hands on the counter till 01:29PM (IST).

The stock opened at Rs 3400.05 and has touched an intraday high and low of Rs 3432.85 and Rs 3333.0 during the session so far. The stock quoted a price-to-earnings (PE) ratio of 37.58, earnings per share (EPS) of Rs 88.99 and price to book value (PB) of 6.39, while the return on equity (ROE) stood at Rs 17.07.

Promoter/ FII Holding
The promoters held 46.09 per cent stake in the company as of October 25, while FII and MF ownerships stood at 20.01 per cent and 17.26 per cent, respectively.

Key Financials
With a market capitalisation of Rs 50730.75 crore, the company operates in the Pesticides/Agro Chem industry. For the quarter ended 30-Jun-2023, the company reported consolidated sales of Rs 1957.3 crore, up 21.19 per cent from the previous quarter?s Rs 1615.1 crore and up 24.88 per cent from the same quarter a year ago. The company reported net profit of Rs 382.9 crore for the latest quarter, up 45.92 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 34.52. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.