Share price of Page Industries rises as Nifty strengthens

Shares of Page Industries Ltd. gained 0.86 per cent to Rs 38192.4 in Wednesday's trade as of 01:37PM (IST). The stock hit a high price of Rs 38317.55 and low of Rs 37627.0 during the session.

The return on equity (ROE) for the stock stood at 49.28 per cent. Traded volume on the counter stood at 01:37PM shares and turnover at Rs 2.1 crore around that time. The stock of Page Industries Ltd. quoted a 52-week high price of Rs 54262.3 and 52-week low prices of Rs 35600.0, respectively.

The stock's Beta value, which measures its volatility in relation to the broader market, stood at 0.87.

Promotor/FII Holding
Promoters held 0.0 per cent stake in the company as of 31-Dec-2022, while FIIs held 24.66 per cent and domestic institutional investors had 14.96 per cent.

Key Financials
The company reported consolidated sales of Rs 1224.9 crore for the quarter ended 31-Dec-2022, down 2.61 per cent from previous quarter's Rs 1257.69 crore and down 2.34 per cent from the year-ago quarter's Rs 1196.94 crore. Net profit after tax for the latest quarter stood at Rs 123.73 crore, down 29.12 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bullish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.
It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect "buy" or "sell" opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.