PI Industries shares rise 0.93% as Nifty gains

Shares of PI Industries Ltd. traded 0.93 per cent up at Rs 3304.95 on Thursday at around 10:56AM (IST), while the benchmark BSE Sensex advanced 592.52 points to 59409.81.

As many as 1,804 shares changed hands on the counter with a total value of Rs 0.6 crore.

The stock quoted a 52-week high price of Rs 3533.3 and a 52-week low of Rs 2334.35.

On the technical charts, the 200-DMA of the stock stood at Rs 2769.74, while 50-DMA was at Rs 2803.86. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up. On the other hand, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend and if it trades between 50DMA and 200DMA, then it suggests the stock can go anywhere.

Shares of the company have advanced 5.24 per cent in the past one year, while Sensex has risen 9.2 per cent during the same period.

According to BSE data, the stock trades at a price-to-earnings multiple of 53.21 and a price-to-book ratio of 7.01. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price to book value indicates the inherent value of a company and reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to the Pesticides/Agro Chem industry.