Garg Furnace Faces Significant Stock Volatility Amid Broader Market Challenges

Mar 03 2025 10:05 AM IST
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Garg Furnace, a microcap in the steel industry, has hit a new 52-week low, reflecting significant volatility and underperformance compared to its sector. The stock has dropped consecutively over two days, with a notable decline over the past year, contrasting sharply with broader market trends.
Garg Furnace, a microcap player in the steel, sponge iron, and pig iron industry, has experienced significant volatility today, reaching a new 52-week low of Rs. 185. This decline marks a notable underperformance, with the stock trailing its sector by 6.53%. Over the past two days, Garg Furnace has seen a consecutive drop, accumulating a total loss of 15.08%.

The stock opened lower today, with an initial loss of 2.45%, and hit an intraday low of Rs. 185, reflecting a 6.52% decrease. In terms of technical indicators, Garg Furnace is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a challenging market position.

Over the past year, Garg Furnace has faced a steep decline of 46.66%, contrasting sharply with the Sensex, which has only dipped by 1.28%. This performance highlights the ongoing struggles faced by the company within the broader market context.
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