Share Price of Pidilite Industries Drops as Sensex Plunges

In today’s trading session, the share price of Pidilite Industries Ltd. experienced a decline of 2.23% to reach Rs 2733.8 at 01:58 PM (IST). This comes as a result of the significant drop of 1344.0 points witnessed in the Sensex. Throughout the session, the stock has fluctuated between a high of Rs 2793.9 and a low of Rs 2720.1. To provide a comparison, it’s worth noting that the stock had closed at Rs 2796.3 during the previous trading session.

Total Traded Volume and Value on NSE

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As of now, the total traded volume of Pidilite Industries Ltd. stands at 16,719 shares on the National Stock Exchange (NSE), with a cumulative value of Rs 4.58 crore. The NSE serves as a significant platform for investors to trade securities in India. By examining these figures, we can better gauge the level of investor activity surrounding the stock and its corresponding impact on the market.

Price-to-Earnings Ratio and Price-to-Book Value

Pidilite Industries Ltd. currently trades at a price-to-earnings (P/E) multiple of 91.75 and possesses a price-to-book (P/B) ratio of 16.59. Investors often rely on these ratios to assess the value and growth potential of a company. A high P/E ratio indicates that investors are willing to pay a premium for each rupee of earnings, which can be interpreted as a positive outlook for future growth. On the other hand, the P/B ratio highlights the intrinsic value of the company and signifies the price investors are willing to pay, regardless of growth prospects.

Performance Over the Past Year

Over the course of the past year, Pidilite Industries Ltd. has witnessed a 12.15% increase in value. This performance should be considered in relation to the broader market, as the 30-share index recorded a growth of 19.1% during the same period. Pidilite Industries Ltd. operates within the Diversified industry, indicating its involvement in various sectors to mitigate risks.

 

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Promoter and Institutional Investors’ Stake

As of December 31, 2023, the promoters of Pidilite Industries Ltd. held a significant 68.59% stake in the company. In addition, foreign institutional investors (FIIs) owned 11.49% of the company, while domestic institutional investors accounted for 3.49% ownership. The distribution of ownership among these key stakeholders sheds light on the confidence placed in the company by prominent investors.

Key Financials Analysis

During the quarter ended September 30, 2023, Pidilite Industries Ltd. reported consolidated sales of Rs 3107.63 crore. This figure represents a decrease of 5.79% compared to the previous quarter’s sales of Rs 3298.54 crore, and a decline of 2.83% compared to the same quarter of the previous year (Rs 3022.13 crore). However, the latest quarter’s profit stood at Rs 450.15 crore, reflecting an impressive 35.41% increase compared to the same quarter in the previous year.

 

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The share price of Pidilite Industries Ltd. experienced a decline in today’s trading session due to the downward movement of the Sensex. The total traded volume and value on the NSE indicate the level of investor participation in the stock. Furthermore, the price-to-earnings ratio and price-to-book value provide insights into investors’ expectations and the inherent value of the company. Pidilite Industries Ltd. has shown notable performance over the past year, despite the slightly lower growth rate compared to the broader market. The significant stake held by the promoters, along with the involvement of institutional investors, demonstrates confidence in the company. Lastly, an analysis of key financials reveals a decline in sales but a substantial increase in profit for the latest quarter.

 

Source:indiatimes.com

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