ICICI Prudential Mutual Fund has raised its shareholding in PI Industries to 7.16% from 5.12% after purchasing an additional 4.38 lakh shares on 20 May 2026.
The fund house has acquired more than 30.9 lakh shares since its last disclosure in October 2025, indicating continued institutional confidence in the company. It also clarified that the stake increase is solely for investment purposes and does not involve any intent to gain controlling interest in the company.
As of March 2026, ICICI Prudential Mutual Fund held a 6.99% stake (10,599,897 shares) in the company, according to BSE data.
Recently, PI Industries reported a consolidated net profit of ₹200 crore for the quarter, marking a 39% year-on-year decline from ₹330 crore in the corresponding period last year. Revenue from operations fell 12% to ₹1,565 crore against ₹1,787 crore a year ago, while EBITDA declined 26% YoY to ₹337 crore amid continued pressure on margins and muted demand conditions.
For FY26, the company posted a 20% decline in net profit to ₹1,320 crore, compared with ₹1,660 crore in FY25. Annual revenue also declined 16% to ₹6,713 crore from ₹7,977 crore in the previous financial year.
Despite softer earnings, the board recommended a final dividend of ₹70 per equity share for FY26, subject to shareholder approval at the upcoming AGM. Including the interim dividend of ₹5 per share already paid, the total dividend payout for the year stands at ₹75 per share.
PI Industries share price today
PI Industries share price today jumped over 3% , the stock touched an intraday high of ₹2,820.10 per share on the BSE, and hit an intraday low of ₹2,742.05 per share.
According to Ruchit Jain, Head – Equity Technical Research, Wealth Management, Motilal Oswal Financial Services, the PI Industries share price has been forming a lower top-lower bottom formation and is thus in a downtrend. The recent gap-down move, followed by volume-based selling, is a negative sign, and we may therefore see the bearish trend continue.
Anshul Jain, Head of Research at Lakshmishree, said PI Industries is nearing a crucial technical inflexion point as the stock trades close to the lower end of its 172-week base formation in the ₹2,750–2,800 range. According to him, this zone has historically served as a strong support area, but multiple retests have weakened the structure, while momentum indicators on higher timeframes remain bearish.
He added that a decisive weekly close below ₹2,750 could confirm a significant breakdown, potentially triggering fresh selling pressure and a deeper correction toward ₹2,500. However, if the support zone holds, the stock could witness a sharp mean-reversion rebound.
Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, said PI Industries continues to be in a clear downtrend, with the stock trading below its key short- and long-term moving averages, indicating sustained weakness in the overall price structure. He noted that the stock corrected nearly 12% following its results announcement on 19 May, further weighing on market sentiment.
According to Shah, the technical setup remains firmly bearish. The RSI has slipped below the 40 mark and continues to trend lower, signalling weakening momentum and limited buying interest. At the same time, the MACD has moved below the zero line, accompanied by expanding red histogram bars, reinforcing the negative bias. He also highlighted that the stock has traded below the lower Bollinger Band for the past three sessions, a sign of strong downside pressure during trending moves.
He expects the ₹2,950–3,000 range to act as a key resistance zone and believes the stock is likely to maintain a sideways-to-bearish trend as long as it remains below these levels.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
