Shares of PI Industries fall as Nifty gains

Shares of PI Industries Ltd. slipped 1.64 per cent to Rs 3371.25 in Thursday's trade as of 12:18PM (IST). It hit a high of Rs 3465.75 and low of Rs 3368.0 during the session.

The stock quoted a 52-week high price of Rs 4010.0 and a low of Rs 2870.0. The return on equity for the stock stood at 17.07 per cent. About 31,975 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 underperformer, down 4.76 per cent in the past one year in comparison with a 12.62 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 2870.0 on December 14, while the 50-DMA was at Rs 3577.18. 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 46.09 per cent stake in PI Industries Ltd. as of 30-Sep-2023. Mutual funds and foreign institutional investors held 17.26 per cent and 20.01 per cent stake.