Garden Reach Shipbuilders & Engineers Ltd sees positive trend and 'Hold' call from MarketsMOJO

Oct 08 2024 01:20 PM IST
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On October 8th, 2024, Garden Reach Shipbuilders & Engineers Ltd, a midcap company in the ship building industry, saw a 5.07% increase in its stock performance, closing at Rs 1622.6. According to MarketsMojo, the stock has been given a 'Hold' call, indicating it is expected to perform in line with the market.

Garden Reach Shipbuilders & Engineers Ltd, a midcap company in the ship building industry, saw a positive trend in its stock performance on October 8th, 2024. The stock gained 5.07% and closed at Rs 1622.6, outperforming the sector by 3.68%.

According to MarketsMOJO, a leading stock market analysis platform, the stock has been given a 'Hold' call. This indicates that the stock is expected to perform in line with the market and investors are advised to hold their positions.

On the day of October 8th, Garden Reach Shipbuilders & Engineers Ltd reached an intraday high of Rs 1622.6, showing a 5.6% increase from its previous closing price. However, the stock is currently trading higher than its 200 day moving average but lower than its 5 day, 20 day, 50 day, and 100 day moving averages.

In comparison to the overall market performance, Garden Reach Shipbuilders & Engineers Ltd has outperformed the Sensex by 4.50% in the past 1 day and underperformed by -12.30% in the past 1 month. This indicates that the stock has been volatile in the short term but has shown a positive trend in the long term.

Overall, Garden Reach Shipbuilders & Engineers Ltd has shown a strong performance on October 8th, 2024 and has been given a 'Hold' call by MarketsMOJO. Investors are advised to closely monitor the stock's performance in the coming days.
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