PI Industries shares rise 0.74% as Nifty drops

Shares of PI Industries Ltd. traded 0.74 per cent up at Rs 3848.55 on Thursday at around 11:54AM (IST), while the benchmark BSE Sensex declined 164.84 points to 63063.67.

As many as 4,138 shares changed hands on the counter with a total value of Rs 1.59 crore.

The stock quoted a 52-week high price of Rs 3859.75 and a 52-week low of Rs 2443.9.

On the technical charts, the 200-DMA of the stock stood at Rs 3256.07, while 50-DMA was at Rs 3356.99. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up. On the other hand, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend and if it trades between 50DMA and 200DMA, then it suggests the stock can go anywhere.

Shares of the company have advanced 48.33 per cent in the past one year, while Sensex has risen 16.14 per cent during the same period.

According to BSE data, the stock trades at a price-to-earnings multiple of 47.54 and a price-to-book ratio of 6.39. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price to book value indicates the inherent value of a company and reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to the Pesticides/Agro Chem industry.