Indegene's Stock Drops -6.65% Due to Underperformance in IT Sector

Oct 29 2024 10:05 AM IST
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Indegene, a midcap IT software company, saw a -6.65% decline in stock price on October 29, 2024 due to underperformance in the sector. Despite this, its moving averages remain positive and it has outperformed the market over the past month. MarketsMojo has a 'Hold' call for the stock, indicating a neutral stance.

Indegene, a midcap IT software company, experienced a decline of -6.65% on October 29, 2024. This drop in stock price has been attributed to the company's underperformance in the sector, with a difference of -5.51%. The stock reached an intraday low of Rs 647, a decrease of -6.43%.

Despite this recent decline, Indegene's moving averages remain positive, with the stock being higher than the 50-day, 100-day, and 200-day moving averages. However, it is currently lower than the 5-day and 20-day moving averages.

In comparison to the overall market performance, Indegene's stock has underperformed, with a 1-day performance of -6.72% compared to the Sensex's -0.47%. Over the past month, the company's stock has also seen a decline of -4.80%, while the Sensex has experienced a decrease of -6.94%.

MarketsMOJO has given a 'Hold' call for Indegene's stock, indicating a neutral stance on the company's performance. As a midcap IT software company, Indegene's stock may continue to experience fluctuations in the market, but its positive moving averages suggest potential for growth in the future.
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