Shares of PI Industries fall as Nifty gains

Shares of Ltd. slipped 0.62 per cent to Rs 2951.7 in Tuesday's trade as of 01:50PM (IST). It hit a high of Rs 2978.15 and low of Rs 2943.65 during the session.

The stock quoted a 52-week high price of Rs 3055.0 and a low of Rs 1661.5. The return on equity for the stock stood at 13.81 per cent. About 2,733 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 0.56.

The scrip has been an outperformer, up 74.11 per cent in the past one year in comparison with a 43.83 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 1661.5 on July 13, while the 50-DMA was at Rs 2769.5. If a stock trades well 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 a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 46.74 per cent stake in PI Industries Ltd. as of 31-Mar-2021. Mutual funds and foreign institutional investors held 13.86 per cent and 19.35 per cent stake.