Piramal Ent. shares drop 0.52% as Sensex rises

Shares of Piramal Enterprises Ltd. traded 0.52 per cent lower in Friday's session at 02:09PM (IST). The stock opened at Rs 2384.9 and has touched an intraday high and low of Rs 2384.9 and Rs 2305.0, respectively, during the session so far.

The stock quoted a 52-week high of Rs 3013.0 and a 52-week low of 1612.0. About 19,385 shares changed hands on the counter so far.

Benchmark Nifty50 was up 190.2 points at 17829.75, while the BSE Sensex traded 570.96 points higher at 59605.91 at the time of writing of this report.

In the Nifty pack, 44 stocks traded the day in the green, while 6 were in the red.


Key Financials
For the quarter ended 31-Dec-2021, the company reported consolidated sales of Rs 4067.19 crore, up 25.78 per cent from the previous quarter's Rs 3233.59 crore and up 24.58 per cent from the year-ago quarter. The company reported net profit of Rs 855.08 crore for the latest quarter.

Promoter Holdings
Promoters held 43.49 per cent stake in the company as of 31-Dec-2021, while FIIs held 35.31 per cent and MFs 1.56 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 2489.64 on April 08, while the 50-DMA was at Rs 2221.87. 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.