PI Industries shares down 1.14% as Sensex rises

Shares of PI Industries Ltd. fell 1.14 per cent to Rs 3276.0 in Thursday's session as of 01:38PM (IST) even as the equity benchmark Sensex traded 129.66 points higher at 61690.3.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 3698.5 and a 52-week low of Rs 2399.1 on NSE. Around 2636 shares changed hands on the counter till 01:38PM (IST).

The stock opened at Rs 3339.95 and has touched an intraday high and low of Rs 3339.95 and Rs 3273.0 during the session so far. The scrip quoted a price-to-earnings (PE) ratio of 43.09, earnings per share (EPS) of Rs 76.02 and price to book value (PB) of 7.01, while the return on equity (ROE) stood at Rs 13.78.

Promoter/ FII Holding
The promoters held 46.09 per cent stake in the company as of May 18, while FII and MF ownerships stood at 18.59 per cent and 16.4 per cent, respectively.

Key Financials
With a market capitalisation of Rs 49702.86 crore, the company operates in the Pesticides/Agro Chem industry. For the quarter ended 31-Dec-2022, the company reported consolidated sales of Rs 1663.4 crore, down 7.68 per cent from the previous quarter?s Rs 1801.7 crore and down 20.34 per cent from the same quarter a year ago. The company reported net profit of Rs 351.8 crore for the latest quarter, up 58.04 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 50.29. 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.