Godrej Consumer Products Ltd sees -3.69% decline in stock price, still outperforms market

Godrej Consumer Products Ltd (GCPL), a leading FMCG company in India, saw a decline of -3.69% in its stock price on August 8, 2024. This underperformance was in comparison to the overall sector, with the stock falling -3.68% below the sector's performance. The stock had also experienced a trend reversal, falling after three consecutive days of gains.

On the same day, the stock touched an intraday low of Rs 1443.35, a decrease of -3.85%. However, despite this recent decline, the stock's moving averages remain positive, with the 50-day, 100-day, and 200-day moving averages all higher than the current stock price. The stock is, however, lower than the 5-day and 20-day moving averages.

In terms of performance, Godrej Consumer Products Ltd has underperformed the Sensex by -4.14% in the past day and has outperformed the Sensex by 0.93% in the past month. This indicates that while the stock may have experienced a recent decline, it has still performed better than the overall market in the longer term.

MarketsMOJO has given a 'Hold' call for Godrej Consumer Products Ltd, indicating a neutral stance on the stock. This is based on the fact that the stock has shown a decline in its performance and trend reversal, but still has positive moving averages and has outperformed the market in the past month. Investors may want to keep an eye on the stock's performance in the coming days to make informed decisions.