Business Standard

Near-term demand worries likely to weigh on Page Industries stock

Brokerages have mixed view after correction in stock price

Page Industries
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Page Industries

Ram Prasad Sahu Mumbai
Since its October high last year, the stock of innerwear major Page Industries has been on a downtrend, shedding a little over 30 per cent of its market value. Higher competitive intensity, muted volumes, pressure on margins, and rich valuations have led to downgrades for the stock.

The October-December quarter (third quarter, or Q3) performance was lower than the Street’s expectations — both on volumes/sales and margins. While volumes fell 11 per cent over the year-ago period, sales saw muted 2.8 per cent growth. However, the volume fall came on the back of a high base, with the year-ago quarter

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First Published: Mar 23 2023 | 7:45 PM IST

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