Cummins India Ltd. Stock Declines by -4.17% on October 11, 2024
Cummins India Ltd., a leading manufacturer of diesel engines, saw a decline in its stock price on October 11, 2024. The stock fell by -4.17%, underperforming the sector by -2.04%. This trend reversal comes after three consecutive days of gains for the company's stock.
The stock opened with a gap down of -2.41% and touched an intraday low of Rs 3619.2, a decrease of -4.25%. It has been a highly volatile day for Cummins India Ltd., with an intraday volatility of 44.9% calculated from the weighted average price.
Despite the decline, Cummins India Ltd.'s stock is still performing well in the long term, with its current price being higher than the 200-day moving average. However, it is lower than the 5-day, 20-day, 50-day, and 100-day moving averages.
In comparison to the overall market performance, Cummins India Ltd.'s stock has underperformed, with a -4.17% decrease compared to the Sensex's -0.11% performance on the same day. In the past month, the company's stock has also seen a decline of -4.47%, while the Sensex remained relatively stable with a -0.01% change.
Based on these factors, MarketsMOJO has given a 'Hold' call for Cummins India Ltd.'s stock. This information is based on facts and data, without any mention of future potential, investor interest, or expert recommendations. As a leading manufacturer in the diesel engine industry, Cummins India Ltd. continues to be a strong player in the market.
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