Piramal Ent. shares drop 1.66% as Sensex falls

Shares of Piramal Enterprises Ltd. traded 1.66 per cent down at Rs 2244.0 at 12:02PM (IST) on Monday, even as BSE benchmark Sensex dropped 1243.93 points to 57095.0.

The stock had settled at Rs 2281.8 in the previous session. The stock quoted a 52-week high price of Rs 3013.0 and 52-week low of Rs 1612.0, respectively. As per BSE data, total traded volume on the counter till 12:02PM (IST) stood at 8059 shares with a turnover of Rs 1.8 crore.

At the prevailing price, shares of the company traded at 43.83 times its trailing 12-month earnings per share of Rs 52.06 per share and 1.22 times its price-to-book value, exchange data showed.

A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.

Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.96.

Shareholding Details

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

Technicals
On the technical charts, the relative strength index (RSI) of the stock stood at 50.7. 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. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a'buy' or'sell' recommendation using a single valuation ratio.