Bihar Sponge Iron Ltd's Stock Price Surges 100% in 15 Days, Rated as 'Sell' by MarketsMOJO

Bihar Sponge Iron Ltd, a microcap company in the iron and steel industry, has recently seen a surge in its stock price. On January 30, 2024, the company's stock hit a 52-week high of Rs.21.29. However, according to MarketsMOJO, the stock is currently rated as a 'Sell'.

In today's trading session, Bihar Sponge Iron Ltd outperformed the sector by 4.17%, with a gain of 4.98%. This marks the 15th consecutive day of gains for the stock, which has seen a remarkable 100.66% increase in its value during this period. The stock also opened with a gap up of 4.98% today and touched an intraday high of Rs.21.29.

It is worth noting that the stock has been consistently trading at its current price of Rs.21.29 since the opening of the market. This indicates a strong hold on the stock by investors.

In terms of moving averages, Bihar Sponge Iron Ltd is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This suggests a positive trend for the stock in the short and long term.

In comparison to the Sensex, Bihar Sponge Iron Ltd has shown a remarkable performance over the past year, with a 101.23% increase in its stock price. This is significantly higher than the Sensex's performance of 20.71% during the same period.

Overall, Bihar Sponge Iron Ltd has shown a strong performance in the stock market, with a recent surge in its stock price and consistent gains over the past 15 days. However, investors should take note of the 'Sell' rating by MarketsMOJO and conduct their own research before making any investment decisions.