About Pi Industries:
Pi Industries Limited is an Indian multinational company that primarily operates in the agrochemical and custom synthesis segments.
Here are some key areas of business for Pi Industries:
Agrochemicals: Pi Industries is known for its expertise in the development, manufacturing, and marketing of agrochemicals. They produce a wide range of products including herbicides, insecticides, fungicides, and plant growth regulators. These products are used by farmers to protect and enhance crop yields.
Custom Synthesis: Pi Industries also has a strong presence in the custom synthesis and manufacturing of active pharmaceutical ingredients (APIs), intermediates, and specialty chemicals for various industries, including pharmaceuticals, agrochemicals, and more.
Crop Protection: The company is involved in research and development to create innovative crop protection solutions. This includes the development of new molecules and formulations to address various agricultural challenges.
Pharmaceuticals: In addition to agrochemicals, Pi Industries has a growing presence in the pharmaceutical sector, focusing on contract research and manufacturing services (CRAMS) and custom synthesis.
Research and Development: Pi Industries places a significant emphasis on research and development to stay at the forefront of innovation in the agrochemical and chemical industries.
Global Presence: While based in India, Pi Industries operates internationally and exports its products and services to various countries, making it a global player in the agrochemical and chemical sectors.
Fundamental Analysis:
Revenue and Profits have surged substantially over last 5 years. The growth has been backed up export of products to global markets.
While Debt to Equity has always been very low for the firm. It is debt free company with immense growth in business. In FY 24 Q1 the company posted its best ever results with increasing net profit margins.
FIIs has recently increased holdings in FY-24 Q1 indicating more positive outlook for the company.
Technical Analysis:
Pi industries have seen steep correction from all its time high of 4000, lets first analyze the weekly trend as shown in below chart.
It has given all time high breakout with excellent triple bottom formation around 3000 hence the probability of the stock to be in uptrend for longer targets in future is high, lets drill down further to daily analysis to understand and chalk out entry levels for investment and trading purposes.
Daily Analysis with Volume:
1st Unusual Volume: The price gave a breakout with gap up opening and almost 10 times volume. The retail traders are very attracted with this setup; hence shares are bought by retailers rather than big traders and institutions which buy shares at lows. So, buying subsided the next day and price corrected continuously for coming days.
2nd Unusual Volume: This is the region where investors are normally more interested in buying with double bottom confirmation and hence continuous two days volume spiked high giving indication that investors have bought at this level more than traders did.
3rd Unusual Volume: This area is again best for traders and investors, as trendline break with volumes and high probability of giving all time breakout.
4th Unusual Volume: This area is best for short term traders as price has confirmed all time breakout with investor support zone as shown below.
Technical Good Buy zone for Investors: 3200 - 3500
Target: 6000
Time Span: 2 years
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*Disclaimer- The above-mentioned article is just for educational and research purposes. I am neither a SEBI registered advisor or broker nor have any financial relations with Pi Industries Limited. This is not a financial or equity recommendation.
Excellent analysis