Fortis Healthcare Stock Drops -3.15% Amid Sector Underperformance, Analysts Suggest 'Hold' Rating
Fortis Healthcare, a leading healthcare services company in the largecap industry, saw a decline of -3.15% in its stock price on March 12, 2024. This drop was in line with the overall underperformance of the sector, with the stock falling -2.13% below the sector's performance.
According to MarketsMOJO, a leading stock analysis platform, the current stock call for Fortis Healthcare is 'Hold'. This suggests that investors should hold onto their current positions in the company's stock.
The stock's price summary for the day shows that it touched an intraday low of Rs 399.95, representing a -3.15% decrease from its previous closing price. The stock's moving averages also indicate a mixed trend, with it being higher than the 5 day, 100 day, and 200 day moving averages, but lower than the 20 day and 50 day moving averages.
In comparison to the overall market performance, Fortis Healthcare's stock saw a decline of -1.88% on the day, while the Sensex saw a positive performance of 0.56%. Over the past month, the stock has underperformed the Sensex by -6.33%, with a -4.00% decrease in its price compared to the Sensex's 4.00% increase.
Overall, Fortis Healthcare's stock has seen a decline in its price, but it remains a strong player in the largecap healthcare services industry. Investors should continue to monitor the stock's performance and make informed decisions based on their own research and risk tolerance.
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