CIE Automotive India's Stock Sees Decline Despite Outperforming Sector

Aug 05 2024 09:45 AM IST
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CIE Automotive India's stock price saw a decline of -3.21% today, reaching an intraday low of Rs 556.55. Despite this, the stock has been outperforming its sector and is currently trading above its 100 and 200 day moving averages. MarketsMojo has given a 'Hold' call for the stock, indicating a stable outlook.


CIE Automotive India, a leading player in the castings and forgings industry, saw a decline in its stock price today. The stock opened with a loss of -3.21% and touched an intraday low of Rs 556.55, down by -3.46%. This decline comes after the stock has been losing for the last 4 days, with a total fall of -5.65% in this period.

Despite this recent decline, CIE Automotive India has been performing well in comparison to its sector. Today, the stock outperformed the sector by 2.8%. However, the stock is currently trading lower than its 5 day, 20 day, and 50 day moving averages, although it is higher than its 100 day and 200 day moving averages.

In the castings and forgings sector, CIE Automotive India's performance has been in line with the overall trend. The sector has fallen by -3.49%, while CIE Automotive India's stock has declined by -1.87% in the last 1 day and -7.55% in the last 1 month. In comparison, the Sensex has also seen a decline of -1.81% in the last 1 day and -0.60% in the last 1 month.

Based on these factors, MarketsMOJO has given a 'Hold' call for CIE Automotive India's stock. While the recent decline may be a cause for concern, the company's overall performance and position in the industry suggest a stable outlook for the stock. Investors are advised to hold onto their positions for now.
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