It appears that shares of Page Industries Ltd experienced a drop of nearly 4% as the stock turned ex-dividend for an interim dividend of Rs 75 per share. The stock opened lower at Rs 41150 and slipped 3.85% to Rs 39657.85 against the previous close of Rs 41254.85 on BSE. In the past year, the share has lost 19.38% and fallen 3.77% since the beginning of this year. Today, a total of 640 shares were traded, amounting to a turnover of Rs 2.56 crore on BSE. The market cap of the firm slipped to Rs 45,604 crore. The share’s 52-week low was at Rs 34,968 on May 26, 2023, and the 52-week high was at Rs 54,262 on October 21, 2022.
Page Industries, a leading company in the textile industry, has reported a decline in its consolidated net profit and revenue for the June 2023 quarter. The net profit fell by 23% to Rs 158.35 crore compared to Rs 207 crore in the same quarter of the previous financial year. Similarly, the revenue decreased by 7.5% to Rs 1240 crore from Rs 1,341.26 crore in the year-ago quarter.
Additionally, the company’s EBIDTA slipped by 18.8% to Rs 241.7 crore. The EBIDTA margin, which indicates the profitability of the company, came in at 19.5 percent, showing a decline of 270 basis points year on year. One basis point is equal to one-hundredth of a percentage point.
The technical indicators you provided, here is an analysis of Page Industries stock:
1. Relative Strength Index (RSI): An RSI of 78.1 suggests that Page Industries stock is currently overbought. This could indicate that the stock price may be due for a correction or a period of consolidation.
2. Beta: With a beta of 0.5, Page Industries stock is considered to have low volatility compared to the overall market. This means that the stock is less likely to experience significant price swings in relation to market movements.
3. Moving Averages: Page Industries shares are trading above the 10-day, 20-day, and 50-day moving averages, indicating short-term positive momentum. However, the stock is trading below the 200-day moving average, suggesting a longer-term downtrend or consolidation.
