Greaves Cotton Ltd. sees -7.1% decline in stock price due to underperformance

Greaves Cotton Ltd., a smallcap company in the diesel engines industry, has seen a decline of -7.1% in its stock price on October 22, 2024. This drop in stock price has been attributed to the company's underperformance in the sector, with a -6.64% difference. The stock has also been on a consecutive downward trend for the past two days, with a total fall of -8.16% during this period.

On the day of the decline, Greaves Cotton Ltd. reached an intraday low of Rs 178.35, which is a decrease of -7.57% from its previous closing price. However, the stock's moving averages are still showing a positive trend, with values higher than the 20-day, 50-day, 100-day, and 200-day moving averages. The only exception is the 5-day moving average, which is currently lower.

In comparison to the overall market performance, Greaves Cotton Ltd. has underperformed the Sensex by -6.87% in just one day. However, the company's one-month performance is still positive at 1.90%, despite the Sensex's -5.09% decline during the same period.

MarketsMOJO has given a 'Hold' call for Greaves Cotton Ltd.'s stock, indicating a neutral stance on the company's performance. As a smallcap company in the diesel engines industry, Greaves Cotton Ltd. continues to face challenges in the market, but its moving averages and one-month performance show potential for growth in the future.