Essar Shipping's Stock Price Soars 9.99%, Outperforming Sector by 7.29%
On June 20, 2024, Essar Shipping, a smallcap company in the shipping industry, saw a 9.99% increase in its stock price, outperforming the sector by 7.29%. This marks the third consecutive day of gains for the company, with a total return of 30.79% in this period. The stock is currently trading above its moving averages, indicating a positive trend. However, according to MarketsMojo, the stock call for Essar Shipping is 'Strong Sell'.
Essar Shipping, a smallcap company in the shipping industry, has seen a significant increase in its stock price on June 20, 2024. The stock has gained 9.99%, outperforming the sector by 7.29%. This marks the third consecutive day of gains for the company, with a total return of 30.79% in this period.
The stock opened with a gap up of 6.24% and reached an intraday high of Rs. 58.85, which is also a new 52-week high for the company. It has been a highly volatile day for Essar Shipping, with an intraday volatility of 38.41%.
In terms of moving averages, Essar Shipping is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This indicates a positive trend for the company's stock.
According to MarketsMOJO, a leading stock analysis platform, the stock call for Essar Shipping is 'Strong Sell'. However, the company's performance in the past month has been impressive, with a return of 109.11%, compared to the Sensex's performance of 4.51%.
Investors should note that this news article is based on factual information and does not include any external data or sources. It is important to conduct thorough research and analysis before making any investment decisions.
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