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    Divi's Laboratories Ltd. shares drop 1.08% as Sensex rises

    Synopsis

    On the technical charts, the RSI of the stock stood at 63.46.

    It is the second largest discount broker at present after Zerodha, which is the largest broker among full service and discount category.
    Shares of Divi's Laboratories Ltd. traded 1.08 per cent down at Rs 3311.2 at 10:46AM (IST) on Monday, even as BSE benchmark Sensex gained 47.3 points to 38893.12.

    The stock had settled at Rs 3347.2 in the previous session. The stock quoted a 52-week high price of Rs 3388.0 and 52-week low of Rs 1577.05, respectively. As per BSE data, total traded volume on the counter till 10:46AM (IST) stood at 29673 shares with a turnover of Rs 9.91 crore.

    At the prevailing price, shares of the company traded at 55.28 times its trailing 12-month EPS of Rs 60.13 per share and 7.22 times its price-to-book value, exchange data showed.

    A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.

    Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.0.

    Shareholding Details

    Promoters held 51.97 per cent stake in the company as of 30-Jun-2020, while FIIs owned 18.17 per cent and DIIs 15.57 per cent.

    Technicals
    On the technical charts, the relative strength index (RSI) of the stock stood at 63.46. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a 'buy' or'sell' recommendation using a single valuation ratio.
    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

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