Engineers India Ltd. (EIL) Opens with Loss of -6%, Underperforms Engineering Sector

In today's market, Engineers India Ltd. (EIL) opened with a loss of -6.0%, underperforming the engineering sector by -2.98%. This marks the second consecutive day of losses for the midcap engineering company, with a fall of -6.89% in the past two days.

The stock also opened with a gap down of -6%, touching an intraday low of Rs 205.25. However, despite these recent losses, EIL's moving averages are still higher than its 20 day, 100 day, and 200 day moving averages. It is, however, lower than its 5 day and 50 day moving averages.

In comparison, the engineering sector as a whole has fallen by -2.82%. This could be attributed to the current market conditions and the impact of the ongoing pandemic.

According to MarketsMOJO, the stock call for EIL is 'Hold'. This is based on the company's 1 day performance of -4.03% compared to the Sensex's performance of -1.05%. However, over the past month, EIL has outperformed the Sensex with a 10.84% return, while the Sensex has only seen a 1.14% increase.

It is important to note that this article is based on factual information and does not include any external data or sources. As a midcap engineering company, EIL's performance in the market is subject to various factors and investors are advised to do their own research before making any investment decisions.