When some of the most expensive stocks are talked about (in terms of price and not valuations), one name that always tops the list is the mighty MRF (Madras Rubber Factory). One share of #MRF currently trades at a whopping price of INR 80,300 and has touched a lifetime high of INR 98,599.95 on the NSE in February last year.
However, if the second-most expensive stock is talked about, the famous #PAGEIND When some of the most expensive stocks are talked about (in terms of price and not valuations), one name that always tops the list is the mighty MRF (Madras Rubber Factory). One share of MRF currently trades at a whopping price of INR 80,300 and has touched a lifetime high of INR 98,599.95 on the NSE in February last year.
However, if the second-most expensive stock is talked about, the famous #PAGEIND Industries (NS: PAGE ) secures the spot almost all of the time. The company is in the business of manufacturing and trading of garments and has a market capitalization of INR 54,512 crores. However, one share of Page Industries has today touched a lifetime high of INR 49,135.60 on the NSE. To put it in perspective, the average monthly salary of a person in India is around INR 31,900, as per the data from salaryexplorer.com.
The share price of Page Industries has been continuously rising for the 5 sessions and is today up by a decent 2.33% to INR 48,873. In fact, the stock is not just expensive in terms of price but the valuations also seem quite high. The stock has been commanding rich valuations for a long time and currently, Page Industries shares are trading at a TTM P/E ratio of a massive 101.60. A company with a P/B ratio below 1 is considered to be undervalued while above 1, it starts to become expensive, and generally, a P/B ratio between 1 - 3 could be considered decently valued, although these ratios vary a lot from industry to industry. In the case of Page Industries, it’s 50.08! There’s only 1 stock in the Nifty 50 index that is trading at an even higher P/B than Page Industries (Page is not a Nifty 50 stock), which is #NESTLEIND Nestle (NS: NEST ) with a P/B ratio of 85.61.
The financials of the firm are strong but how much they justify the rich valuations is a question. The company clocked a 57.5% growth in the consolidated net income to INR 536.54 crores in FY22, compared to INR 340.57 crores in FY21. Consequently, the EPS has also jumped from INR 305.34 to INR 481.03 (the highest since 2013, at least) in the same period.
Interestingly, the stock is still rising after #NYKAA Nykaa (NS: FSNE ) declared a straight war against Page Industries as it recently entered the men’s innerwear space with its Gloot brand, as it plans to slice a good chunk of market share in this space.
For Analysis, Prediction & Levels for 16.11.2021, do watch this YouTube video.
# Q2 NET PROFIT 221M RUPEES VS 196M (YOY)
# Q2 REVENUE 5.17B RUPEES VS 4.84B (YOY)
# Q2 CONS NET PROFIT 1.11B RUPEES VS 1.19B (YOY)
# Q2 REVENUE 11.32B RUPEES VS 10.64B (YOY)
# DECLARED DIVIDEND OF RUPEES 100/SHARE
# Q2 SL NET PROFIT 1.11B RUPEES VS 1.15B (YOY); EST 691M
# Q2 REVENUE 7.4B RUPEES VS 7.8B (YOY)
*CHINA FACES GREATER RISK OF LOCAL INFECTION CAUSED BY IMPORTED CASES OVER WINTER - RTRS*
# Q2 NET PROFIT 74M RUPEES VS 248M (YOY)
# Q2 REVENUE 424M RUPEES VS 679M (YOY)
# Q2 CONS NET PROFIT 399M RUPEES VS 196M (YOY)
# Q2 REVENUE 5.52B RUPEES VS 5.6B (YOY)
*STRIDES PHARMA SCIENCE*: NCLT SANCTIONS PETITION BY ARROW, FAGRIS, CO FOR APPROVAL OF SCHEME OF AMALGAMATION WITH CO, SHAREHOLDERS, CREDITORS
# Q2 CONS NET PROFIT 325M RUPEES VS 740M (YOY)
# Q2 REVENUE 642M RUPEES VS 1.2B (YOY)
# Q2 NET PROFIT 137M RUPEES VS 56M (YOY)
# Q2 REVENUE 1.73B RUPEES VS 1.38B (YOY)
# CO APPROVED BUYBACK OF SHARES AT THE PRICE OF RUPEES 84/SHARE AGGREGATING AMOUNT RUPEES 5.87B
# Q2 CONS NET PROFIT 883M RUPEES VS 666M (YOY); EST 990M
# Q2 REVENUE 6.92B RUPEES VS 7.3B (YOY)
# Q2 SL NET PROFIT 262M RUPEES VS 1.06B (YOY); EST 1.13B
# Q2 REVENUE 2.77B RUPEES VS 6.59B (YOY)
#BDL #ENGINERSIN #TVSSRICHAK #AVANTIFEED #PAGEIND
Page Industries continues significant uptrend; increases 1.5%
Page Industries Ltd. (NSE:PAGEIND), India's 2nd largest Other apparels & accessories company by market cap, has increased Rs381.35 (1.5%)