3i Infotech Hits New 52-Week Low at Rs. 16.98 Amid Market Struggles
3i Infotech has reached a new 52-week low, reflecting a significant downturn in the Computers - Software & Consulting sector. The stock has underperformed its industry and is trading below key moving averages. Despite recent challenges, the company reported positive quarterly results and increased institutional investment.
3i Infotech has reached a new 52-week low, hitting Rs. 16.98 today, marking a significant downturn for the microcap company in the Computers - Software & Consulting industry. This decline comes as the stock has underperformed its sector by 4.37% and has experienced a consecutive fall over the last two days, resulting in a total drop of 13.66% during this period.In terms of moving averages, 3i Infotech is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a persistent downward trend. Over the past year, the stock has recorded a performance decline of 33.21%, contrasting sharply with the Sensex, which has gained 5.83% during the same timeframe.
Despite the recent challenges, the company has reported positive results for the last three consecutive quarters, with a profit after tax of Rs. 34.52 crore and a return on capital employed (ROCE) of 6.72%. Additionally, institutional investors have increased their stake in the company by 10.05% in the previous quarter, now holding 17.32% of the company.
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