Elgi Equipments Ltd's Stock Price Declines by -4.0% on October 7th, Underperforms Sector
Elgi Equipments Ltd, a leading manufacturer of compressors and pumps, saw a decline of -4.0% in its stock price on October 7th, 2024. This underperformance was reflected in the stock's performance today, as it fell -3.43% compared to the sector. The stock has been on a downward trend for the past two days, with a total decline of -4.43% during this period.
On the day of October 7th, Elgi Equipments Ltd's stock touched an intraday low of Rs 655.8, representing a -3.76% decrease from its previous closing price. The stock's moving averages show that it is currently higher than the 200 day moving average, but lower than the 5 day, 20 day, 50 day, and 100 day moving averages.
In comparison to the overall market performance, Elgi Equipments Ltd's stock has underperformed, with a -4.49% decline compared to the Sensex's 0.17% increase on the same day. Over the past month, the stock has also seen a decline of -7.58%, while the Sensex has shown a positive growth of 0.79%.
Despite the recent decline in stock price, MarketsMOJO has given a 'Hold' rating for Elgi Equipments Ltd. As a largecap company in the compressors and pumps industry, Elgi Equipments Ltd continues to be a key player in the market. Investors should keep an eye on the company's performance in the coming days.
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