Pidilite Ind shares drop 0.2% as Sensex falls

Shares of Pidilite Industries Ltd. traded 0.2 per cent lower in Thursday's session at 10:56AM (IST). The stock opened at Rs 2728.55 and has touched an intraday high and low of Rs 2728.55 and Rs 2710.0, respectively, during the session so far.

The stock quoted a 52-week high of Rs 2804.0 and a 52-week low of 2250.85. About 762 shares changed hands on the counter so far.

Benchmark Nifty50 was down 139.55 points at 21915.5, while the BSE Sensex traded 430.47 points lower at 72192.62 at the time of writing of this report.


In the Nifty pack, 13 stocks traded the day in the green, while 37 were in the red.


Key Financials
For the quarter ended 31-Dec-2023, the company reported consolidated sales of Rs 3166.97 crore, up 1.91 per cent from the previous quarter's Rs 3107.63 crore and up 5.47 per cent from the year-ago quarter. The company reported net profit of Rs 510.48 crore for the latest quarter.

Promoter Holdings
Promoters held 69.84 per cent stake in the company as of 31-Dec-2023, while FIIs held 11.49 per cent and MFs 3.49 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 2569.7 on February 22, while the 50-DMA was at Rs 2666.51. 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.