Page Industries shares drop 0.77% as Sensex falls

Shares of Page Industries Ltd. traded 0.77 per cent lower in Thursday's session at 01:27PM (IST). The stock opened at Rs 37500.05 and has touched an intraday high and low of Rs 37500.05 and Rs 36913.6, respectively, during the session so far.

The stock quoted a 52-week high of Rs 54262.3 and a 52-week low of 36731.3. About 265 shares changed hands on the counter so far.

Benchmark Nifty50 was down 94.05 points at 17660.35, while the BSE Sensex traded 311.45 points lower at 60036.64 at the time of writing of this report.

In the Nifty pack, 15 stocks traded the day in the green, while 35 were in the red.


Key Financials
For the quarter ended 31-Dec-2022, the company reported consolidated sales of Rs 1224.9 crore, down 2.61 per cent from the previous quarter's Rs 1257.69 crore and down 2.34 per cent from the year-ago quarter. The company reported net profit of Rs 123.73 crore for the latest quarter.

Promoter Holdings
Promoters held 46.12 per cent stake in the company as of 31-Dec-2022, while FIIs held 24.66 per cent and MFs 14.96 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 45049.57 on March 09, while the 50-DMA was at Rs 39754.86. 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.