Stock Market: Shares of PI Industries fell 11 percent today, why investors broke down to buy shares? Learn


Highlights

The current market capitalization of the company is Rs 55 lakh crore.
The company’s revenue has increased by 31 percent in the second quarter.
Profit after tax has increased by 46 per cent year-on-year.

New Delhi. Today investors are lounging on the shares of Pesticides and Agrochemical company PI Industries. The company’s stock jumped 11 percent in intraday and today it made its all-time high. Market experts are considering the company’s good quarterly results and the possibility of further growth as the reason behind the rise in the company’s stock. The stock of PI Industries was open today.

Yesterday the stock closed at Rs 3297.15. Today, once in intraday, it rose by 11.40 percent to reach Rs 3,698. This is its all time high. Earlier on September 1, 2022, it had touched its record high of Rs 3,505. PI Industries is one of the leading manufacturers of pesticides and agrochemicals. The current market capitalization of the company is Rs 55 lakh crore.

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Bullish momentum after stellar quarterly results
The company has done a great job in the quarter ended September 2022. During the quarter July-September, 2022, PI Industries reported a year-on-year growth of 31 per cent in revenue of Rs 17,700 crore. There has also been a jump in the company’s exports. At the same time, its profit after tax has increased by 46 percent on an annual basis to Rs 334.80 crore.

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Shares up 43 percent in 6 months
The stock of PI Industries has gained momentum since last one year. Today, till the writing of the news, the stock was trading at Rs 3,664.45 with a gain of 11.14 per cent. In the last one month, this stock has gained about 23 percent. At the same time, in the last six months, this stock has given 43 percent returns to the investors. So far in the year 2022, this stock has gained 20 percent. In one year, this stock has given 31 percent profit to investors.

What is the opinion of the brokerage
According to a report by Moneycontrol, brokerage firm ICICI Securities believes that with increasing volumes of existing CSM products, demand for CSM exports from the non-agro chemical space is increasing. The company has also benefited from the launch of new molecules in the second half of FY23. The brokerage believes that the management’s guidance of 20 per cent growth in revenue can be achieved in FY23 with improvement in margins.

(Disclaimer: The stocks mentioned here are based on the advice of brokerage houses. If you wish to invest in any of these, please consult a Certified Investment Advisor first. News18 will not be responsible for any profit or loss caused by you .)

Tags: business news in hindi, NSE, Share market, stock market



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