PI Industries shares fall 1.88 per cent in Thursday's trading session

Shares of PI Industries Ltd. fell 1.88 per cent to Rs 3537.45 in Thursday's trade as of 01:43PM (IST) even as the benchmark Nifty ruled at 18552.6, up 18.2 points.

The scrip had closed at Rs 3605.3 in the previous session. The stock quoted a 52-week low of Rs 2443.9 and a high of Rs 3698.5. The company quoted a market-cap of Rs 53696.08 crore on the BSE.

On BSE, 5,126 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 43.67 times its trailing 12-month EPS of Rs 81.05 per share and 6.39 times its book value. The return on equity (ROE) stood at Rs 17.07.

Key Financials
For the quarter ended 31-Mar-2023, PI Industries Ltd. reported consolidated sales of Rs 1615.1 crore, down 14.13 per cent from the same quarter a year ago. The company reported 37.28 per cent YoY growth in net profit at Rs 280.6 crore for the latest quarter.

Technical indicators
The relative strength index (RSI) of the stock stood at Thursday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold 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.