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    Page Industries shares drop 0.62% as Sensex falls

    Synopsis

    On the technical charts, the RSI of the stock stood at 32.31.

    macdGetty Images
    MACD is known for signaling trend reversals in traded securities or indices. It is the difference between the 26-day and 12-day exponential moving averages.
    Shares of Page Industries Ltd. traded 0.62 per cent down at Rs 43725.0 at 01:09PM (IST) on Tuesday, even as BSE benchmark Sensex dropped 459.88 points to 61346.31.

    The stock had closed at Rs 43999.8 in the previous session. The stock quoted a 52-week high price of Rs 54262.3 and 52-week low of Rs 37201.2, respectively. As per BSE data, total traded volume on the counter till 01:09PM (IST) stood at 5406 shares with a turnover of Rs 23.36 crore.

    At the current price, the stock traded at 65.92 times its trailing 12-month earnings per share of Rs 658.3 per share and 44.25 times its price-to-book value, exchange data showed.

    A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.

    Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 0.87.

    Shareholding Details

    Promoters held 0.0 per cent stake in the company as of 30-Sep-2022, while FIIs owned 25.29 per cent and DIIs 15.19 per cent.

    Technicals
    On the technical charts, the relative strength index (RSI) of the stock stood at 32.31. 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. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a'buy' or'sell' recommendation using a single valuation ratio.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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