IRM Energy's Stock Price Drops -8.03% Amidst Underperformance in Gas Industry

IRM Energy, a smallcap company in the gas transmission and marketing industry, has recently seen a decline in its stock price. On May 24, 2024, the company's stock lost -8.03%, closing at Rs 475. This decline has been reflected in the stock call given by MarketsMOJO, which has rated IRM Energy as a 'Sell'.

The stock's performance today has underperformed the sector by -9.53%. In fact, IRM Energy has been on a downward trend for the past four days, with a total decline of -16.91% during this period. The stock also touched an intraday low of Rs 475, further adding to its negative performance.

In terms of moving averages, IRM Energy is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This indicates a downward trend in the stock's price.

Comparing IRM Energy's performance to the overall market, the company has underperformed the Sensex by -5.12% in the past day and -17.13% in the past month. In contrast, the Sensex has only seen a decline of -0.01% and a growth of 2.11% in the same time periods.

While the reasons for IRM Energy's decline in stock price are not mentioned, investors should keep an eye on the company's performance and future developments in the gas transmission and marketing industry.