Elgi Rubber Company Faces Decline Despite Recent All-Time High Achievement

Dec 30 2024 10:10 AM IST
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Elgi Rubber Company has recently undergone a revision in its score, reflecting the stock's recent performance challenges. Despite reaching an all-time high in late December, the stock has struggled, underperforming its sector and experiencing a significant decline over the past eight weeks. It has been added to MarketsMojo's list, indicating ongoing interest despite current volatility.
Elgi Rubber Company, a microcap player in the rubber products industry, has recently reached an all-time high price on December 30, 2024. However, the stock has shown a notable decline in performance, underperforming its sector by 0.81% today. Currently, it is approximately 4.57% away from its 52-week high of Rs 151.9.

The stock has faced significant challenges, falling consistently for the past eight weeks, resulting in a total return of -100% during this period. Additionally, it has experienced a monthly decline for the last six weeks, mirroring the same -100% return trend. Trading activity has also been erratic, with the stock not trading on five out of the last twenty days.

On the technical side, Elgi Rubber Company is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a complex market position. The stock reached an intraday low of Rs 141.7, reflecting a decrease of 3.5% during the trading session.
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