Garware Technical Fibres Experiences Notable Adjustment in Stock Evaluation Amid Market Challenges

Jan 06 2025 11:05 AM IST
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Garware Technical Fibres has recently undergone a revision in its score, reflecting ongoing challenges in the market. The stock has been added to MarketsMojo's list, indicating a cautious outlook as it continues to trade below key moving averages and underperform relative to its sector.
Garware Technical Fibres, a midcap player in the textile industry, has recently experienced a notable adjustment in its evaluation. The stock has faced challenges, with a decline of 5.49% recorded on January 6, 2025. This downturn has placed the stock under pressure, as it underperformed its sector by 4.06% on the same day.

The company has been on a consecutive downward trend, losing value for two consecutive days and accumulating a total decline of 7.2% during this period. On January 6, Garware Technical Fibres opened with a gap down, reflecting a loss of 2.91%, and reached an intraday low of Rs 862.3, marking a decrease of 5.52%.

In terms of moving averages, Garware Technical Fibres is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a challenging market position. Additionally, the stock's performance over the past month shows a decline of 10.51%, contrasting with the Sensex's decrease of 3.74%. Amid these developments, Garware Technical Fibres has been added to MarketsMOJO's list, highlighting its evolving market dynamics.
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