Elgi Equipments' Stock Declines -3.16% Despite Outperforming Sector, MarketsMOJO Suggests 'Hold'

Elgi Equipments, a leading manufacturer of compressors and pumps, saw a decline of -3.16% in its stock price on November 4th, 2024. This underperformance was noted by MarketsMOJO, who have given a 'Hold' call for the stock.

The stock opened with a gain of 2.41% today, but fell to an intraday low of Rs 640.1, a decrease of -3.16%. This marks the second consecutive day of losses for the company, with a total decline of -3.63% in the period.

Despite the recent decline, Elgi Equipments' stock is still performing better than the sector, with a difference of -1.22%. The stock's moving averages are also showing a mixed trend, with it being higher than the 5 day moving average but lower than the 20 day, 50 day, 100 day, and 200 day moving averages.

In comparison to the Sensex, Elgi Equipments' stock has underperformed with a -2.97% return in the last day and a -5.88% return in the last month, while the Sensex has seen a -1.04% and -3.42% return, respectively.

Overall, Elgi Equipments' stock has seen a decline in its performance, but it is still outperforming the sector and has a mixed trend in its moving averages. Investors may want to hold onto their positions for now, as suggested by MarketsMOJO.