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The stock quoted a 52-week high of Rs 2587.95 and a 52-week low of Rs 1900.5.

"EBITDA margins in FY2022 were affected by the trend in export sales. With a new distributor appointed earlier this calendar year in the key market of Saudi Arabia, export business is witnessing improvement in sales. This should lead to improvement in EBITDA margins. Overall, we can expect the current financial year to demonstrate improvement in profitability over the preceding year."

PI Industries Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 45793.08 Crore) operating in Pesticides/Agro Chemicals sector.

The company board is scheduled to meet on August 13 to take on record the results for the quarter ended June 30, 2022, and consider the recommendation of issuance of bonus equity shares, the company said in a regulatory filing.

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Analysts said Grand Vitara will target the competitive mid-size SUV segment, which is currently dominated by Hyundai Creta and Kia Seltos, along with other models such as Skoda Kushaq, MM XUV 700 and MG Astor. This segment on an average sells 35,000 units per month and continues to see strong preference from consumers, they said.

A total of 8,622 shares changed hands on the counter till 01:25PM (IST).

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“If one takes a slightly longer view of one-three years, which a lot of investors are comfortable with because of tax considerations, then returns from this point onwards would be fairly good. So nothing to be afraid of given that a large chunk of the volatility is perhaps behind us.”

On the technical charts, the RSI of the stock stood at 55.23.