You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

P I Industries gains on launching QIP issue

Capital Market 

P I Industries rose 1.61% to Rs 1,587.85 after the company launched a qualified institutional placement (QIP) of equity shares on 2 July 2020.

The QIP issue was launched at a floor price of Rs 1,534.24 per share. The company's board will meet on 7 July 2020 to determine the issue price of the QIP.

On the technical front, the stock's RSI (relative strength index) stood at 54.586. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day moving average (DMA) placed at 1,542.83 and its 200-day moving average (DMA) placed at 1,441.07.

P I Industries' consolidated net profit dropped 11.9% to Rs 110.70 crore on 6.3% rise in net sales to Rs 855.20 crore in Q4 March 2020 over Q4 March 2019.

P I Industries manufactures agricultural and fine chemicals, and polymers. The company produces fine chemicals, crop protection, plant nutrients, and seeds, and engineering plastics for use in the automobile, electrical, and home appliances industries.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, July 03 2020. 09:43 IST