Page Industries shares up 0.41% as Sensex rises

Shares of Page Industries Ltd. gained 0.41 per cent to Rs 40100.45 in Thursday's session as of 01:03PM (IST) even as the equity benchmark Sensex traded 34.1 points higher at 65467.4.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 54262.3 and a 52-week low of Rs 34968.6 on NSE. Around 78 shares changed hands on the counter till 01:03PM (IST).

The stock opened at Rs 39986.0 and has touched an intraday high and low of Rs 40125.0 and Rs 39900.05 during the session so far. The stock quoted a price-to-earnings (PE) ratio of 85.59, earnings per share (EPS) of Rs 468.51 and price to book value (PB) of 30.86, while the return on equity (ROE) stood at Rs 41.66.

Promoter/ FII Holding
The promoters held 46.12 per cent stake in the company as of August 24, while FII and MF ownerships stood at 21.99 per cent and 15.73 per cent, respectively.

Key Financials
With a market capitalisation of Rs 44727.54 crore, the company operates in the Branded Hosiery/Knitwear industry. For the quarter ended 30-Jun-2023, the company reported consolidated sales of Rs 1241.93 crore, up 27.22 per cent from the previous quarter?s Rs 976.21 crore and up 7.63 per cent from the same quarter a year ago. The company reported net profit of Rs 158.36 crore for the latest quarter, down 23.51 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 58.56. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition 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.