Finolex Cables Faces Continued Decline Amid Broader Market Challenges

Feb 27 2025 10:05 AM IST
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Finolex Cables Ltd. has faced a notable decline in its stock price, marking four consecutive days of losses and a significant drop over the past month. Despite outperforming its sector, the stock is currently trading below key moving averages, indicating a bearish trend in its recent performance.
Finolex Cables Ltd., a midcap player in the cable industry, has experienced a significant decline today, with shares dropping by 5.03%. This downturn marks the fourth consecutive day of losses, totaling a 7.99% decrease over this period. The stock is currently trading just 2.49% above its 52-week low of Rs 833, having reached an intraday low of Rs 845.5, reflecting a drop of 5.74% at its lowest point today.

In terms of performance metrics, Finolex Cables has outperformed its sector, which has seen an overall decline of 8.82%. However, the stock's performance over the past month shows a more challenging picture, with a 16.05% decrease compared to a slight decline of 0.96% in the broader Sensex index. Additionally, Finolex Cables is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend in its recent trading activity.
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