Gallantt Ispat Ltd. Stock Sees -5.18% Decline, But Experts Give 'Buy' Call

Aug 16 2024 10:05 AM IST
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Gallantt Ispat Ltd., a midcap company in the iron and steel industry, saw a -5.18% decline in stock price on August 16, 2024. However, it is currently trading above its moving averages and has shown a positive growth of 4.58% in the past month. MarketsMojo has given a 'Buy' call for the stock.


Gallantt Ispat Ltd., a midcap company in the iron and steel industry, has been making headlines in the stock market recently. On August 16, 2024, the company's stock saw a decline of -5.18%, underperforming the sector by -5.89%. However, despite this recent dip, experts at MarketsMOJO have given a 'Buy' call for the stock.

Taking a closer look at the stock's performance, it has been on a downward trend for the past two days, with a fall of -5.86% during this period. The stock also opened with a loss of -4.11% today and touched an intraday low of Rs 340.4 (-5.18%). However, it is worth noting that Gallantt Ispat Ltd. is currently trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.

In comparison to the overall market performance, Gallantt Ispat Ltd. has seen a -5.18% decline in just one day, while the Sensex has only seen a 0.60% increase. However, over the past month, the stock has shown a positive growth of 4.58%, outperforming the Sensex's -1.40% performance.

Despite the recent dip in stock price, Gallantt Ispat Ltd. has shown promising growth in the past month and is currently trading above its moving averages. With a 'Buy' call from MarketsMOJO, investors may want to keep an eye on this midcap company in the iron and steel industry.
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