Bharat Forge Ltd. Stock Sees -3.17% Decline, Rated 'Hold' by MarketsMOJO
Bharat Forge Ltd., a leading player in the castings and forgings industry, has seen a decline in its stock price by -3.17% on August 2nd, 2024. This has been reflected in the stock call given by MarketsMOJO, which has rated the stock as 'Hold'. The stock has also been a part of the Hidden Turnaround list on MarketsMOJO since August 9th, 2023.
In terms of performance, Bharat Forge Ltd. has underperformed the sector by -2.13% on the day of August 2nd. The stock has also been on a downward trend for the past three days, with a fall of -4.71% during this period. On the same day, the stock touched an intraday low of Rs 1660, showing a decline of -3.31%.
Despite the recent dip in stock price, Bharat Forge Ltd. has been performing well in the long term. The stock is currently trading higher than its 20-day, 50-day, 100-day, and 200-day moving averages. However, it is lower than its 5-day moving average.
In comparison to the overall market performance, Bharat Forge Ltd. has seen a decline of -3.31% on August 2nd, while the Sensex has only seen a decline of -0.98%. However, in the past month, the stock has outperformed the Sensex with a growth of 0.94% compared to the Sensex's growth of 2.04%.
Overall, Bharat Forge Ltd. has been a strong player in the castings and forgings industry, but recent market trends have affected its stock price. Investors are advised to hold onto their stocks and monitor the company's performance in the coming days.
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