PI Industries shares plunge 22% after Q2 results

PI Industries shares have fallen 22% after weak Q2 results and slipped below Rs 1,700 on 9 November. Rs 1,500 support and Rs 2,000 resistance are key levels. PI Industries Limited [PIIND] shares have fallen approximately 22% since the Q2 results announced on 4 November 2026. On 9 November, the stock traded below Rs 1,700, its lowest level since July 2020. The selling pressure followed a sharp deterioration in consolidated Q2 numbers. Profit declined 70.1% to Rs 122.2 crore from Rs 409.3 crore year on year. Revenue fell 9.1% to Rs 1,701.8 crore from Rs 1,872.3 crore year on year. Profit contracted much faster than revenue, indicating significant pressure on earnings. The stock's fall below Rs 1,700 reflects continued weakness in price action. Rs 1,500 is the next stated support, while Rs 2,000 remains resistance. In my view, the combination of weak quarterly results and a steep price decline keeps the technical outlook under pressure. A move above Rs 2,000 would bring a stronger recovery into focus. A fall below Rs 1,500 would increase downside pressure and weaken the support case. Watch the price action around Rs 1,500 and any attempt to reclaim Rs 2,000. Stance: strongly bearish while below Rs 2,000, with Rs 1,500 as the key support. Disclaimer: I do not hold any position in this. This content is for informational purposes only and is not a recommendation to buy or sell. Investments in securities are subject to market risks. Please read all related documents carefully before investing.