Share price of Pidilite Ind falls as Nifty weakens

Shares of Pidilite Industries Ltd. slipped 1.35 per cent to Rs 2590.9 in Thursday's trade as of 01:14PM (IST). The stock hit a high price of Rs 2630.0 and low of Rs 2589.05 during the session.

The return on equity (ROE) for the stock stood at 17.76 per cent. Traded volume on the counter stood at 01:14PM shares and turnover at Rs 134.0 crore around that time. The stock of Pidilite Industries Ltd. quoted a 52-week high price of Rs 2916.85 and 52-week low prices of Rs 2250.85, respectively.

The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.04.

Promotor/FII Holding
Promoters held 69.38 per cent stake in the company as of 30-Jun-2023, while overseas investors held 11.34 per cent and domestic institutional investors had 3.88 per cent.

Key Financials
The company reported consolidated sales of Rs 2712.07 crore for the quarter ended 31-Mar-2023, down 9.68 per cent from previous quarter's Rs 3002.72 crore and down 7.7 per cent from the year-ago quarter's Rs 2518.21 crore. Net profit after tax for the latest quarter stood at Rs 283.03 crore, up 11.28 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bearish 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.