Share price of Page Industries falls as Nifty weakens

Shares of Page Industries Ltd. slipped 0.16 per cent to Rs 39267.2 in Tuesday's trade as of 12:28PM (IST). The stock hit a high price of Rs 39358.55 and low of Rs 39154.45 during the session.

The return on equity (ROE) for the stock stood at 41.66 per cent. Traded volume on the counter stood at 12:28PM shares and turnover at Rs 4236.0 crore around that time. The stock of Page Industries Ltd. quoted a 52-week high price of Rs 54262.3 and 52-week low prices of Rs 34968.6, respectively.

The stock's Beta value, which measures its volatility in relation to the broader market, stood at 0.87.

Promotor/FII Holding
Promoters held 0.0 per cent stake in the company as of 30-Jun-2023, while foreign investors held 21.99 per cent and domestic institutional investors had 15.73 per cent.

Key Financials
The company reported consolidated sales of Rs 976.21 crore for the quarter ended 31-Mar-2023, down 20.3 per cent from previous quarter's Rs 1224.9 crore and down 12.53 per cent from the year-ago quarter's Rs 1116.04 crore. Net profit after tax for the latest quarter stood at Rs 78.35 crore, down 58.88 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bullish 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.