PI Industries gains after starting commercial production at unit in Gujarat

PI Industries rose 1.84% to Rs 707.35 at 10:40 IST on BSE after the company said it commenced the commercial production at its third unit located at Sterling special economic zone facility, Jambusar in Gujarat from 11 January 2016.

The announcement was made by the company after market hours yesterday, 11 January 2016.

Meanwhile, the S&P BSE Sensex was down 67.91 points or 0.27% at 24,757.13.

On BSE, so far 1,875 shares were traded in the counter as against average daily volume of 2.35 lakh shares in the past one quarter. The stock hit a high of Rs 707.55 and a low of Rs 698.35 so far during the day. The stock had hit a record high of Rs 785.65 on 13 April 2015. The stock had hit a 52-week low of Rs 482.10 on 11 February 2015. The stock had outperformed the market over the past one month till 11 January 2016, rising 16.1% compared with 0.88% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 5.27% as against Sensex's 8.33% decline.

The large-cap company has equity capital of Rs 13.71 crore. Face value per share is Re 1.

PI Industries' net profit rose 18.9% to Rs 58.22 crore on 4.5% growth in net sales to Rs 444.11 crore in Q2 September 2015 over Q2 September 2014.

PI Industries focuses on agri-input and custom synthesis.

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