Page Industries shares drop 0.65% as Sensex falls

Shares of Page Industries Ltd. traded 0.65 per cent down at Rs 47200.0 at 12:08PM (IST) on Tuesday, even as BSE benchmark Sensex dropped 308.31 points to 62526.29.

The scrip had closed at Rs 47508.9 in the previous session. The stock quoted a 52-week high price of Rs 54262.3 and 52-week low of Rs 36500.0, respectively. As per BSE data, total traded volume on the counter till 12:08PM (IST) stood at 35 shares with a turnover of Rs 0.17 crore.

At the prevailing price, shares of the company traded at 71.75 times its trailing 12-month earnings per share of Rs 658.3 per share and 44.25 times its price-to-book value, BSE 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 0.0 per cent and DIIs 15.19 per cent.

Technicals
On the technical charts, the relative strength index (RSI) of the stock stood at 42.07. 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.