Godawari Power & Ispat Ltd's Stock Sees Decline, MarketsMOJO Calls for 'Hold' Rating

Oct 07 2024 11:00 AM IST
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Godawari Power & Ispat Ltd, a midcap company in the steel/sponge iron/pig iron industry, saw a -6.36% decline in its stock price on October 7th, 2024. This has led to a 'Hold' call by MarketsMojo. The stock has been underperforming the sector and is currently trading below its moving averages. Despite this, it remains a midcap company and investors are advised to monitor its performance.

Godawari Power & Ispat Ltd, a midcap company in the steel/sponge iron/pig iron industry, has seen a decline in its stock price by -6.36% on October 7th, 2024. This has led to a 'Hold' call by MarketsMOJO for the stock.

The stock has been underperforming the sector by -4.57% and has been on a downward trend for the past 4 days, with a fall of -13.32% during this period. On the same day, the stock touched an intraday low of Rs 192.3 (-6.92%). Additionally, Godawari Power is currently trading below its 5 day, 20 day, 50 day, 100 day, and 200 day moving averages.

The steel/sponge iron/pig iron sector as a whole has also seen a decline of -2.86%. In comparison, Godawari Power's 1 day performance is -6.49% while the Sensex's performance is -0.25%. Over the past month, the company's performance has been 3.87% while the Sensex's performance is 0.37%.

Despite the recent decline in stock price, Godawari Power & Ispat Ltd remains a midcap company in the steel/sponge iron/pig iron industry. Investors are advised to hold their positions and monitor the company's performance in the coming days.
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