Elgi Rubber Faces Continued Pressure as Stock Hits Lower Circuit Limit

Elgi Rubber Company Ltd, operating in the Industrial Products sector, experienced significant trading activity today as its stock hit the lower circuit limit. The stock closed at Rs 76.75, reflecting a decline of Rs 6.7 or 8.03% from the previous trading session. Notably, the stock reached an intraday low of Rs 75.1, marking a decrease of 10.01% during the day.
The trading volume was substantial, with a total of 3.09 lakh shares exchanged, resulting in a turnover of approximately Rs 2.39 crore. The stock has shown a consistent downward trend, having fallen every week for the past eight weeks and generating a total return of -100% in that period. Additionally, it has underperformed its sector by 8.61% today.

Despite opening with a loss of 2.7%, the stock's volatility was notable, with an intraday fluctuation of 6.15%. The weighted average price indicated that more volume was traded closer to the low price, suggesting a shift in market sentiment. Overall, Elgi Rubber Company Ltd's performance today reflects ongoing challenges, with the stock's position remaining under pressure in the current market environment.