PI Industries shares drop 0.16% as Sensex rises

Shares of PI Industries Ltd. traded 0.16 per cent lower in Wednesday's session at 12:25PM (IST). The stock opened at Rs 3819.95 and has touched an intraday high and low of Rs 3917.75 and Rs 3819.95, respectively, during the session so far.

The stock quoted a 52-week high of Rs 3938.95 and a 52-week low of 2462.85. About 2,224 shares changed hands on the counter so far.

Benchmark Nifty50 was up 11.8 points at 18828.5, while the BSE Sensex traded 100.17 points higher at 63427.87 at the time of writing of this report.

In the Nifty pack, 27 stocks traded the day in the green, while 23 were in the red.


Key Financials
For the quarter ended 31-Mar-2023, the company reported consolidated sales of Rs 1615.1 crore, down 2.9 per cent from the previous quarter's Rs 1663.4 crore and down 14.13 per cent from the year-ago quarter. The company reported net profit of Rs 280.6 crore for the latest quarter.

Promoter Holdings
Promoters held 46.09 per cent stake in the company as of 31-Mar-2023, while FIIs held 18.59 per cent and MFs 16.4 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 3265.88 on June 21, while the 50-DMA was at Rs 3425.89. 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.