PI Industries shares up 2% after Q2 profit jumps 76% to Rs 217 crore
Sales of PI Industries was up 27.58 percent to Rs 1157.70 crore in the quarter ended September 2020 as against Rs 907.40 crore during the previous quarter ended September 2019.
October 29, 2020 / 10:26 AM IST
PI Industries share price was up almost 3 percent intraday on October 29 after the company declared its September quarter results.
Net profit of the company jumped 76.62 percent to Rs 217.60 crore in the quarter ended September 2020 as against Rs 123.20 crore during the quarter ended September 2019.
Sales of PI Industries was up 27.58 percent to Rs 1157.70 crore in the quarter ended September 2020 as against Rs 907.40 crore during the quarter ended September 2019.
The stock was trading at Rs 2,170.20, up Rs 59.15, or 2.80 percent at 10:14 hours. It has touched an intraday high of Rs 2,219 and an intraday low of Rs 2,130.
According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: Price above short, medium and long term moving averages. FII / FPI or Institutions increasing their shareholding. The company has strong cash-generating ability from core business - Improving Cash Flow from operation for the last 2 years.
Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.