Jindal Steel & Power Stock Declines -3.19% on October 22, Given 'Hold' Call by MarketsMOJO

Jindal Steel & Power, a leading player in the steel/sponge iron/pig iron industry, saw a decline of -3.19% in its stock on October 22, 2024. The stock has been given a 'Hold' call by MarketsMOJO, indicating a neutral stance on the company's performance.

In terms of price, Jindal Steel & Power underperformed the sector by -0.68% on the day. The stock has also been on a downward trend for the past two days, with a fall of -4.72% during this period. The stock touched an intraday low of Rs 915.65, showing a decline of -3.25%.

While Jindal Steel & Power's stock is currently trading higher than its 200-day moving average, it is lower than its 5-day, 20-day, 50-day, and 100-day moving averages. This indicates a mixed trend in the company's stock performance.

In the steel/sponge iron/pig iron sector, Jindal Steel & Power's stock has fallen by -2.46%. This is in line with the overall trend in the sector, which has seen a decline of -2.46%.

Compared to the performance of the Sensex, Jindal Steel & Power's stock has underperformed with a decline of -3.19% on the day, while the Sensex saw a decline of -0.77%. In the past month, Jindal Steel & Power's stock has seen a decline of -9.45%, while the Sensex has seen a decline of -4.75%.

Overall, Jindal Steel & Power's stock has shown a decline in its performance, in line with the trend in the steel/sponge iron/pig iron sector. Investors are advised to hold their positions in the stock, as indicated by MarketsMOJO's 'Hold' call.