PI Industries shares down 1.58% as Sensex falls

Shares of PI Industries Ltd. fell 1.58 per cent to Rs 2989.95 in Wednesday's session as of 12:25PM (IST) even as the equity benchmark Sensex traded 747.88 points lower at 60230.87.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 3698.5 and a 52-week low of Rs 2334.35 on NSE. Around 3422 shares changed hands on the counter till 12:25PM (IST).

The stock opened at Rs 3069.95 and has touched an intraday high and low of Rs 3069.95 and Rs 2972.05 during the session so far. The stock quoted a price-to-earnings (PE) ratio of 44.2, earnings per share (EPS) of Rs 67.51 and price to book value (PB) of 7.01, while the return on equity (ROE) stood at Rs 13.78.

Promoter/ FII Holding
The promoters held 184.36 per cent stake in the company as of January 25, while FII and MF ownerships stood at 74.4 per cent and 65.48 per cent, respectively.

Key Financials
With a market capitalisation of Rs 45271.93 crore, the company operates in the Pesticides/Agro Chem industry. For the quarter ended 30-Sep-2022, the company reported consolidated sales of Rs 1801.7 crore, up 14.96 per cent from the previous quarter?s Rs 1567.3 crore and up 30.38 per cent from the same quarter a year ago. The company reported net profit of Rs 334.8 crore for the latest quarter, up 45.82 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 19.46. 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.