Bharat Dynamics Stock Sees Dip in Price, Hold Call Given by MarketsMOJO
Bharat Dynamics, a leading defence company in India, saw a dip in its stock price on April 2nd, 2024. The stock lost -3.17% and closed at Rs 1720.75. This underperformance was reflected in the stock's movement throughout the day, with an intraday low of Rs 1715.2, a decrease of -3.22%.
MarketsMOJO, a popular stock analysis platform, has given a 'Hold' call for Bharat Dynamics. This indicates that the stock is expected to perform at par with the market and investors are advised to hold on to their current positions.
In terms of moving averages, Bharat Dynamics is currently trading higher than its 5 day, 100 day, and 200 day moving averages. However, it is lower than its 20 day and 50 day moving averages. This suggests a mixed trend in the stock's performance.
In comparison to the overall sector performance, Defence has gained by 2.35%. This indicates that Bharat Dynamics' underperformance is not reflective of the sector's performance.
On a broader scale, Bharat Dynamics' 1 day performance is -2.99% compared to Sensex's -0.06%. Similarly, its 1 month performance is -6.74% while Sensex has seen a slight increase of 0.23%. This further highlights the stock's underperformance in the market.
Overall, Bharat Dynamics' stock has seen a dip in its price and is currently trading at a lower level compared to its moving averages. Investors are advised to hold on to their positions and keep an eye on the stock's performance in the coming days.
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