Electrosteel Castings' Stock Price Drops by -6.97% and Receives 'Hold' Rating from MarketsMOJO

Oct 31 2024 09:35 AM IST
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Electrosteel Castings, a midcap company in the castings and forgings industry, saw a -6.97% decline in its stock price on October 31st, 2024. This reflects a downward trend, with the stock underperforming the sector by -7.19%. It is currently trading below its moving averages and has seen a -23.38% decline in the past month. MarketsMojo suggests holding positions in the stock.

Electrosteel Castings, a midcap company in the castings and forgings industry, has seen a decline in its stock price by -6.97% on October 31st, 2024. This drop in stock price has been reflected in the 'Hold' rating given by MarketsMOJO.

The stock's performance today has underperformed the sector by -7.19%, indicating a downward trend. This is further supported by the fact that the stock has fallen after two consecutive days of gains. Additionally, the stock opened with a loss of -4.68% today and touched an intraday low of Rs 162.9 (-7.68%).

Electrosteel Castings is currently trading below its 5 day, 20 day, 50 day, 100 day, and 200 day moving averages, indicating a bearish trend in the stock's performance.

In comparison to the overall market performance, Electrosteel Castings has seen a decline of -7.62% in the past day, while the Sensex has only seen a decline of -0.37%. In the past month, the stock has seen a decline of -23.38%, while the Sensex has only seen a decline of -5.48%.

Overall, Electrosteel Castings has seen a decline in its stock price and is currently trading below its moving averages. Investors are advised to hold their positions in the stock, as suggested by MarketsMOJO.
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