December 19, 2025 — Page Industries Ltd (NSE: PAGEIND, BSE: 532827), the Jockey and Speedo licensee for India and several neighbouring markets, slipped to a fresh 52-week low in Friday’s session, stretching a tough December run for the premium innerwear and athleisure major. [1]
By early afternoon, the stock was hovering in the ₹35,400–₹35,600 zone, after printing an intraday low around ₹35,307–₹35,310 (exchange feeds differ slightly by venue and timestamp). [2]
That new low matters because it cements a simple, uncomfortable fact: PAGEIND is now roughly 30% below its 52-week high of ₹50,470.60, even as broader benchmarks have been relatively resilient during parts of the quarter. [3]
What happened to Page Industries stock on 19 December 2025?
Market trackers flagged Page Industries on NSE’s 52-week low list on Friday. Around 12:25 pm IST, the screen showed PAGEIND near ₹35,590, down modestly on the day, with an intraday low at ₹35,310 and high near ₹35,960. [4]
On BSE-linked feeds, Business Standard’s market page showed Page Industries around ₹35,455.60 at 12:27 pm IST, and explicitly recorded ₹35,307.25 as the 52-week low with the 52-week low date marked as 19-Dec-2025. [5]
Livemint’s market stats page, meanwhile, had the stock around ₹35,591 at 12:32 pm IST and noted lighter-than-usual activity versus recent averages. [6]
So, the headline for Dec 19 is clear: a new 52-week low, not a dramatic crash—more like persistent, grinding weakness.
How deep is the drawdown—and why investors care
A 52-week low isn’t just a trivia badge. It often acts like a spotlight on a stock’s narrative:
- Momentum investors notice because a fresh low can signal a continuing downtrend.
- Long-term investors notice because it forces a valuation and fundamentals re-check: Is this a bargain forming—or a premium franchise being repriced for slower growth?
As of Friday’s print, Page Industries’ 52-week range sat roughly between ₹35,307.25 and ₹50,470.60. [7]
MarketsMojo’s intraday note framed the move as part of a multi-session slide, pointing to continued underperformance versus sector and benchmark behaviour. [8]
The fundamental backdrop: growth has cooled, costs haven’t fully cooperated
When a “quality compounder” stock grinds lower for months, the reason is usually boring—but powerful: expectations reset.
The most recent quarterly picture (September 2025 quarter / Q2 FY26) delivered exactly that kind of “fine, but not fabulous” signal:
- Net profit: about ₹194.76 crore, marginally lower year-on-year
- Revenue from operations: about ₹1,290.85 crore, up ~3.57% YoY
- Volume growth: about 2.5% YoY (to 56.6 million pieces, per the earnings commentary cited by ET)
- Total expenses: up about 5.1% YoY to ~₹1,049.27 crore [9]
In plain English: revenue grew, but not fast; costs rose faster than sales; profits stayed almost flat. That combination tends to make markets impatient—especially with stocks that trade at premium multiples.
Management tone: efficiency focus, demand hopes, and the “quick commerce” angle
ET’s report from the same results cycle highlighted management’s emphasis on operational efficiency and cost optimisation, alongside ongoing investments in product innovation and distribution expansion. [10]
The company also flagged potential tailwinds it expects could support consumption in coming months—pointing to factors like GST-related changes, reduced lending rates, and the ongoing expansion of e-commerce and quick commerce in metros and beyond. [11]
That’s the optimistic arc. The market’s counterpoint (visible in the share price) is: Show it in the numbers—consistently.
Valuation check: the stock corrected, but it’s still priced like a premium franchise
Even after the slide, Page Industries isn’t being valued like an average apparel name.
Business Standard’s snapshot metrics put the stock at approximately:
- Market cap: ~₹39,533 crore
- P/E: ~51.89x (TTM)
- P/B: ~28.14x
- Dividend yield: ~2.52% [12]
This is the key tension for PAGEIND investors in late 2025:
The business is widely viewed as high quality—yet the market is no longer willing to pay “any price” for that quality if growth looks mid-single-digit.
Analyst forecasts on 19.12.2025: targets imply upside, but conviction is mixed
Here’s where today’s “forecast” picture gets interesting: price targets still sit well above the market price, but the recommendation mix is conflicted.
Trendlyne consensus (as of Dec 19, 2025)
Trendlyne’s summary page (timestamped on Dec 19 intraday) showed:
- Consensus share price target: ~₹42,786.65
- Upside vs last traded price (~₹35,575): about 20%
- Consensus stance:Hold [13]
Trendlyne also displayed an average target estimate around ₹44,873.20, implying roughly 26% upside from the same reference price. [14]
Livemint broker-rating snapshot (as of Dec 19, 2025)
Livemint’s market stats page described the average broker rating as “Hold”, and showed a split distribution of calls—ranging from strong buys to strong sells. [15]
That’s important: a “Hold” consensus with big dispersion typically means analysts disagree on one (or more) of these variables:
- how quickly volumes rebound,
- whether margins can re-expand,
- and what valuation multiple the stock deserves in a slower growth regime.
TradingView price target range
TradingView’s analyst-aggregation page listed:
- 1-year price target: ~₹42,454.60
- Range: ~₹33,000 (low) to ₹49,482 (high) [16]
A range that wide is basically Wall Street (and Dalal Street) admitting: the next 12 months hinge on execution and demand recovery.
Technical analysis on Dec 19, 2025: trend signals are still bearish
If fundamentals explain the why, technicals often describe the how of price behaviour—and today’s signals are not cheerful.
Investing.com technicals (dated Dec 19, 2025)
Investing.com’s technical dashboard for Page Industries (timestamp visible on the page) showed:
- Summary:Strong Sell
- RSI (14): ~37.2 (a “Sell” reading on their framework)
- Moving averages: predominantly Sell signals (with only a couple of short-term averages flashing buy) [17]
TradingView technicals
TradingView’s technical summary similarly leaned bearish (overall sell/strong sell depending on the indicator bucket). [18]
MarketsMojo trend commentary
MarketsMojo’s note on the day also described the stock as trading below key moving averages, consistent with a market that’s still in “sell the rallies” mode. [19]
So why is PAGEIND falling now? A practical framework
No single headline explains Page Industries’ December weakness on its own. But the current setup usually comes from the overlap of these forces:
- Growth disappointment vs premium valuation
When a stock trades above 50x earnings, the market wants clean growth and steady upgrades. Q2’s moderate growth and cost pressure didn’t deliver that vibe. [20] - Demand still uneven in discretionary categories
Reuters’ coverage of recent results pointed to subdued consumer demand and slower income growth as part of the wider context affecting discretionary goods. [21] - Technicals reinforcing sentiment
Bearish technical summaries can become self-fulfilling in the short run—triggering systematic selling, cautious positioning, and reluctance to “catch the falling knife.” [22] - Positioning and patience
Even without panic volume, a steady drip of selling can push a high-priced stock into repeated new lows, especially when broader market attention is elsewhere.
What investors will watch next for Page Industries (and why it matters)
Here are the catalysts that could change the PAGEIND narrative from “falling premium” to “recovering compounder”:
- Volume growth trajectory: A move back from low-single-digit volume growth toward healthier levels would be a meaningful sentiment unlock. [23]
- Margin stability: Costs rising faster than revenue is the kind of math the market punishes. Management’s focus on efficiency needs to show up consistently in margins. [24]
- Channel performance: Commentary in recent broker notes (as aggregated on Trendlyne) highlights concerns around growth trends and channel dynamics—something the Street will continue tracking. [25]
- Demand tailwinds: Any real evidence that macro levers (rates, consumption) and distribution shifts (including quick commerce) are boosting sell-through would help. [26]
And the risks that keep the stock vulnerable:
- Premium multiple risk: If growth stays moderate, valuation can compress further even if profits don’t collapse. [27]
- Execution risk in distribution expansion: Expanding reach without diluting brand or margins is harder than it sounds (and the market knows it). [28]
- Technical “trend gravity”: As long as the stock keeps printing fresh lows, it can remain under pressure even on “okay” news. [29]
Bottom line: PAGEIND is at a crossroads of price and perception
On December 19, 2025, Page Industries stock did what struggling charts often do: it made a new 52-week low. [30]
Yet the forward-looking picture isn’t one-dimensional. Consensus targets from multiple analyst aggregators still sit meaningfully above the current price, implying upside—while ratings remain mixed, reflecting genuine debate about how quickly growth and margins can re-accelerate. [31]
For investors, the real story to watch is whether Page Industries can convert its brand strength and distribution push into visible volume growth and steadier profitability—because at 50x-plus earnings, the market doesn’t just want quality. It wants momentum. [32]
References
1. www.business-standard.com, 2. www.business-standard.com, 3. www.business-standard.com, 4. www.moneycontrol.com, 5. www.business-standard.com, 6. www.livemint.com, 7. www.business-standard.com, 8. www.marketsmojo.com, 9. m.economictimes.com, 10. m.economictimes.com, 11. m.economictimes.com, 12. www.business-standard.com, 13. trendlyne.com, 14. trendlyne.com, 15. www.livemint.com, 16. www.tradingview.com, 17. in.investing.com, 18. www.tradingview.com, 19. www.marketsmojo.com, 20. m.economictimes.com, 21. www.reuters.com, 22. in.investing.com, 23. m.economictimes.com, 24. m.economictimes.com, 25. trendlyne.com, 26. m.economictimes.com, 27. www.business-standard.com, 28. m.economictimes.com, 29. in.investing.com, 30. www.business-standard.com, 31. trendlyne.com, 32. www.business-standard.com
