PI Industries shares gain 1.31% as Sensex falls

Shares of PI Industries Ltd. traded 1.31 per cent higher in Friday's session at 10:45AM (IST). The stock opened at Rs 3265.05 and has touched an intraday high and low of Rs 3350.0 and Rs 3265.05, respectively, during the session so far.

The stock quoted a 52-week high of Rs 3533.3 and a 52-week low of 2334.35. About 1,891 shares changed hands on the counter so far.

Benchmark Nifty50 was down 9.6 points at 17649.40, while the BSE Sensex traded 49.56 points lower at 59283.04 at the time of writing of this report.

In the Nifty pack, 24 stocks traded the day in the green, while 26 were in the red.


Key Financials
For the quarter ended 30-Jun-2022, the company reported consolidated sales of Rs 1567.3 crore, up 10.75 per cent from the previous quarter's Rs 1415.2 crore and up 28.31 per cent from the year-ago quarter. The company reported net profit of Rs 262.4 crore for the latest quarter.

Promoter Holdings
Promoters held 46.74 per cent stake in the company as of 31-Mar-2022, while FIIs held 23.1 per cent and MFs 14.84 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 2771.36 on August 12, while the 50-DMA was at Rs 2816.33. 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.