Shares of PI Industries fall as Nifty drops

Shares of PI Industries Ltd. slipped 2.55 per cent to Rs 3877.55 in Thursday's trade as of 01:54PM (IST). It hit a high of Rs 3999.0 and low of Rs 3845.55 during the session.

The stock quoted a 52-week high price of Rs 4010.0 and a low of Rs 2462.85. The return on equity for the stock stood at 17.07 per cent. About 10,270 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 0.56.


The scrip has been an outperformer, up 55.83 per cent in the past one year in comparison with a 23.08 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 2462.85 on June 22, while the 50-DMA was at Rs 3444.69. If a stock trades well 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 a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 46.01 per cent stake in PI Industries Ltd. as of 31-Mar-2023. Mutual funds and foreign institutional investors held 16.4 per cent and 18.59 per cent stake.