Deepak Spinners Ltd. Hits 52-Week Low Amidst Underperformance in Textile Sector

Oct 23 2024 10:05 AM IST
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Deepak Spinners Ltd., a microcap textile company, has been underperforming in the sector with a -3.06% difference and a negative return of -17.72% in the past year. The stock has recently hit a 52-week low and is currently trading below its moving averages, indicating a bearish trend. MarketsMojo has given a 'Strong Sell' call for the company.

Deepak Spinners Ltd., a microcap textile company, has recently hit a 52-week low on October 23, 2024. The stock has been underperforming in the sector, with a -3.06% difference. In the last three days, the stock has been on a downward trend, with a -6.41% return. Today, the stock reached an intraday high of Rs. 205.7, but also touched an intraday low of Rs. 186, showing high volatility with a 5.03% intraday volatility.

Deepak Spinners Ltd. is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This indicates a bearish trend in the stock's performance. In the past year, the company's stock has shown a negative return of -17.72%, while the Sensex has shown a positive return of 24.54%.

MarketsMOJO has given a 'Strong Sell' call for Deepak Spinners Ltd. This microcap textile company has been facing challenges in the market, leading to a decrease in its stock price. Investors should carefully consider the company's performance before making any investment decisions.
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