Hindalco Industries' Stock Sees Minor Dip

Jan 03 2024 11:00 AM IST
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On January 3rd, 2024, Hindalco Industries' stock price saw a dip of -3.02%, closing at Rs 600.05. Despite this, the stock is still performing well compared to its 52-week high and outperformed the sector by 0.31%. Moving averages show a positive trend, but the stock fell by -3.34% in the aluminium sector.

Hindalco Industries, a leading player in the aluminium industry, saw a dip in its stock price on January 3rd, 2024. The company's stock lost -3.02% on this day, closing at Rs 600.05. MarketsMOJO, a popular stock analysis platform, has given a 'Hold' call for Hindalco Industries.

Despite the dip, the stock is still performing well compared to its 52-week high of Rs 620.6, with a difference of only 3.95%. It also outperformed the sector by 0.31% on the same day. However, the stock did touch an intraday low of Rs 595.9, showing a decline of -3.31%.

In terms of moving averages, Hindalco Industries is currently higher than its 20-day, 50-day, 100-day, and 200-day moving averages. However, it is lower than its 5-day moving average. In the aluminium sector, the stock has fallen by -3.34%.

On the same day, Hindalco Industries' performance was -3.13%, while the Sensex's performance was -0.48%. Over the past month, the company's stock has shown a growth of 15.42%, while the Sensex has grown by 6.03%.

Hindalco Industries continues to be a strong player in the aluminium industry, with a largecap size. While the stock may have seen a dip, it is still performing well compared to its peers and the overall market. Investors are advised to hold their positions and keep an eye on the company's future performance.
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