PI Industries shares up 2.77% as Sensex rises

Shares of PI Industries Ltd. gained 2.77 per cent to Rs 2803.0 in Thursday's session as of 11:06AM (IST) even as the equity benchmark Sensex traded 1009.47 points higher at 57826.12.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 3533.3 and a 52-week low of Rs 2104.7 on NSE. Around 2541 shares changed hands on the counter till 11:06AM (IST).

The stock opened at Rs 2760.0 and has touched an intraday high and low of Rs 2805.0 and Rs 2760.0 during the session so far. The scrip quoted a price-to-earnings (PE) ratio of 51.81, earnings per share (EPS) of Rs 53.99 and price to book value (PB) of 6.41, while the return on equity (ROE) stood at Rs 13.81.

Promoter/ FII Holding
The promoters held 46.74 per cent stake in the company as of March 17, while FII and MF ownerships stood at 24.39 per cent and 13.61 per cent, respectively.

Key Financials
With a market capitalisation of Rs 42439.35 crore, the company operates in the Pesticides/Agro Chem industry. For the quarter ended 31-Dec-2021, the company reported consolidated sales of Rs 1382.3 crore, up 0.03 per cent from the previous quarter?s Rs 1381.9 crore and up 15.1 per cent from the same quarter a year ago. The company reported net profit of Rs 222.6 crore for the latest quarter, up 13.92 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 66.43. 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.