Ingersoll-Rand (India) Ltd's stock reaches new high, outperforms sector and market

May 16 2024 12:20 PM IST
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Ingersoll-Rand (India) Ltd, a leading manufacturer of compressors and pumps, has seen a significant rise in its stock performance. On May 16, 2024, the stock closed at a new 52-week and all-time high of Rs. 4912.75, gaining 5.18%. This has caught the attention of MarketsMojo, which has given a 'Buy' call for the stock. The company has also outperformed the sector and the overall market, making it a promising stock in the midcap segment.

Ingersoll-Rand (India) Ltd, a leading manufacturer of compressors and pumps, has been making waves in the stock market with its recent performance. On May 16, 2024, the company's stock gained 5.18%, closing at Rs. 4912.75, which is also its new 52-week and all-time high. This positive trend has caught the attention of MarketsMOJO, a leading stock analysis platform, which has given a 'Buy' call for the stock.

In addition to being a part of MOJO Stocks on MarketsMOJO since February 24, 2023, Ingersoll-Rand (India) Ltd has also outperformed the sector by 0.71% in today's trading session. The stock has been on a consecutive gain for the last three days, with a total rise of 13.39% during this period. It also touched an intraday high of Rs. 4912.75, a 4.7% increase from the previous day.

Moreover, Ingersoll-Rand (India) Ltd is currently trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong uptrend in the stock. The compressors/pumps sector has also seen a gain of 3.51%, further highlighting the positive sentiment in the industry.

In comparison to the overall market performance, Ingersoll-Rand (India) Ltd has outperformed the Sensex by a significant margin. Its 1-day performance stands at 5.07% compared to the Sensex's 0.39%, while its 1-month performance is at 26.98% compared to the Sensex's 0.44%.

With such impressive numbers and a positive outlook, Ingersoll-Rand (India) Ltd is definitely a stock to watch out for in the midcap segment. Investors can take advantage of this upward trend and consider adding this stock to their portfolio.
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