IRIS Business Services Faces Increased Selling Pressure Amid Market Challenges
IRIS Business Services Ltd faced notable trading activity as its stock hit the lower circuit limit, closing at Rs 252.65. The stock has underperformed its sector and experienced a consecutive decline over the past two days. Despite this, liquidity remains adequate with increased delivery volume.
IRIS Business Services Ltd, a microcap player in the Software Products industry, experienced significant trading activity today as its stock hit the lower circuit limit. The last traded price (LTP) stood at Rs 252.65, reflecting a notable decline of Rs 13.3 or 5.0% from the previous close. The stock reached an intraday low of Rs 240.05, marking a decrease of 4.99% during the session.The trading volume for the day was approximately 0.65425 lakh shares, resulting in a turnover of Rs 1.67 crore. Notably, the stock has underperformed its sector by 4.35% and has seen a consecutive decline over the past two days, accumulating a total drop of 9.74% in that period.
IRIS Business Services is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The liquidity of the stock remains adequate, with a delivery volume increase of 116.26% compared to the 5-day average. Overall, the performance of IRIS Business Services today reflects a challenging market environment for the company.
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