Elecon Engineering Company's Stock Sees -7.59% Decline, MarketsMOJO Gives 'Hold' Call

Elecon Engineering Company, a midcap industrial equipment company, saw a decline of -7.59% in its stock on October 18, 2024. This underperformance was noted by MarketsMOJO, who have given a 'Hold' call for the stock. The stock has been on a downward trend for the past two days, with a fall of -6.57% during this period. On the same day, the stock touched an intraday low of Rs 674.45, a decrease of -6.5%. However, the stock's moving averages are still higher than the 20, 50, 100, and 200 day averages, but lower than the 5 day average. In comparison to the Sensex, Elecon Engineering Company's performance in the past day and month has been -9.36% and 3.84% respectively, while the Sensex has shown a positive performance of 0.23% and a negative performance of -2.12% in the same time periods. Despite the recent decline in stock price, Elecon Engineering Company remains a midcap player in the engineering industry, providing industrial equipment. Investors should keep an eye on the company's performance in the coming days.