PI Industries hits a new high

PI Industries continues to trade in the green. Today the stock has hit another new 52-week high at Rs.154. Though it has come off these highs, it remains in the green at Rs.146 levels.

The stock is trading in the positive right since 16th Sept, when the company announced that it has increased the limit for investment by FIIs to 40% of its equity from 24% earlier.

PI Industries is an agri input and custom synthesis & manufacturing company and in Q1FY14, it had posted a 107% jump in net profit on a 68% rise in net sales. The company has commenced commercial production at its Jambusar SEZ and stated that a significant portion of the volumes growth going forward will be delivered from this new plan. It split the stock face value of equity shares from Rs.5/- each to Rs.1/- each.