Kanoria Chemicals Hits New 52-Week Low at Rs. 71.05
Kanoria Chemicals & Industries has reached a new 52-week low, reflecting a significant decline in its performance this year. The stock has consistently underperformed against benchmark indices and is trading below key moving averages. Concerns are heightened by its high debt-to-EBITDA ratio and a substantial portion of pledged promoter shares.
Kanoria Chemicals & Industries has reached a new 52-week low, hitting Rs. 71.05 today. This marks a significant downturn for the microcap company, which has seen a year-to-date performance decline of 31.69%. The stock has consistently underperformed against the benchmark indices, including the BSE500, over the past three years.Today’s trading session saw Kanoria Chemicals underperform its sector by 0.32%, continuing a trend where it has been trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite this recent low, the stock has shown some signs of recovery after three consecutive days of decline.
In the broader market context, the Sensex opened lower at 84,060.14, reflecting a loss of 418.53 points, and is currently trading at 84,187.90. While the small-cap segment is showing some resilience, Kanoria Chemicals' performance remains a focal point of concern, particularly given its high debt-to-EBITDA ratio of 8.49 times and the fact that 29.57% of promoter shares are pledged.
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