Jindal Stainless Stock Declines by -4.01% Amidst Sector-Wide Downturn
Jindal Stainless, a largecap company in the steel industry, saw a -4.01% decline in its stock price on October 25th, 2024. This underperformance is reflected in the stock's 'Hold' rating by MarketsMojo. The stock is currently trading below its moving averages and has underperformed the sector and Sensex in the past day and month. Investors should carefully consider their risk tolerance before investing.
Jindal Stainless, a largecap company in the steel/sponge iron/pig iron industry, has seen a decline of -4.01% in its stock price on October 25th, 2024. This underperformance is reflected in the stock's 'Hold' rating by MarketsMOJO.
The stock's performance today has also been lower than the sector average by -1.92%. This trend reversal comes after two consecutive days of gains for the stock. Jindal Stainless also touched an intraday low of Rs 637.7, a decrease of -4.19%.
In terms of moving averages, Jindal Stainless 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.
The steel/sponge iron/pig iron sector as a whole has also seen a decline of -2.84%. In comparison, Jindal Stainless has underperformed the Sensex by -2.97% in the past day and -18.24% in the past month.
Despite these recent declines, Jindal Stainless remains a largecap company in the steel industry. Investors should continue to monitor the stock's performance and consider their own risk tolerance before making any investment decisions.
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