Balkrishna Industries Ltd. Stock Declines by -6.09% on August 12, 2024, 'Hold' Call by MarketsMOJO

Aug 12 2024 09:35 AM IST
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Balkrishna Industries Ltd., a largecap company in the tyre industry, saw a -6.09% decline in its stock price on August 12, 2024. MarketsMojo has given a 'Hold' call, indicating a neutral stance. The stock has underperformed the sector by -3.17% and has been on a downward trend for the past three days. Moving averages suggest a mixed trend.

Balkrishna Industries Ltd., a largecap company in the tyre industry, has seen a decline in its stock price by -6.09% on August 12, 2024. This has led to a 'Hold' call by MarketsMOJO, indicating a neutral stance on the stock.

The stock has underperformed the sector by -3.17% today and has been on a downward trend for the past three days, with a fall of -10.49% during this period. It touched an intraday low of Rs 2755.5, a decrease of -9.82%.

While the stock's moving averages are higher than the 100-day and 200-day averages, they are lower than the 5-day, 20-day, and 50-day averages. This suggests a mixed trend for the stock.

In the tyre sector, Balkrishna Industries Ltd. has fallen by -2.92%. However, the company's performance is still better than the overall market performance, with a decline of -6.20% compared to the Sensex's -0.26% on a one-day basis. Similarly, on a one-month basis, the company's performance is -8.27% compared to the Sensex's -1.26%.

Investors should keep an eye on Balkrishna Industries Ltd.'s stock performance in the coming days to make informed decisions. However, it is important to note that this article is based on factual information and does not contain any recommendations or opinions from experts or investors.
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