Karma Energy Ltd Hits Lower Circuit Limit, Closes at Rs 60.69 After 5% Decline

Karma Energy Ltd, a microcap player in the power industry, experienced significant trading activity today as its stock hit the lower circuit limit. The last traded price stood at Rs 60.69, reflecting a decline of Rs 3.2 or 5.01% from the previous close. The stock opened with a gap down of 4.05%, indicating a challenging start to the trading session.
Throughout the day, Karma Energy reached an intraday low of Rs 60.69, which aligns with its lower circuit limit, while the intraday high was recorded at Rs 62.69. The total traded volume amounted to approximately 0.22085 lakh shares, resulting in a turnover of Rs 0.1353 crore. Notably, the stock has underperformed its sector by 5.59% and has seen a consecutive decline over the past three days, accumulating a total drop of 14.28% during this period.

Despite trading above its 20-day, 50-day, and 200-day moving averages, the stock remains below its 5-day and 100-day moving averages. Additionally, investor participation has waned, with delivery volume plummeting by 86.3% compared to the 5-day average. Overall, Karma Energy's performance today reflects a challenging market position amid declining investor interest.