Kirloskar Ferrous Industries Ltd experiences decline in stock price, underperforms market
The company operates in the steel, sponge iron, and pig iron industry and has seen a decrease of -6.33% in its stock value on that day. The stock has also been on a downward trend for the past two days and has fallen by -8.88% during this period. Its moving averages also indicate a downward trend, and it has significantly underperformed in comparison to the overall stock market.
Kirloskar Ferrous Industries Ltd (Kirl. Ferrous) has experienced a decline in its stock price on October 24, 2024. The company, which operates in the steel, sponge iron, and pig iron industry, saw a decrease of -6.33% in its stock value on that day.
According to MarketsMOJO, a leading stock market analysis platform, the current recommendation for Kirloskar Ferrous Industries is 'Sell'. The stock has also underperformed the sector by -5.27% on the same day.
This decline in stock price is a continuation of a downward trend for Kirloskar Ferrous Industries, as it has been losing for the past two days and has fallen by -8.88% during this period. On October 24, the stock touched an intraday low of Rs 595.3, which is a decrease of -6.3%.
The moving averages for Kirloskar Ferrous Industries also indicate a downward trend, as the stock is currently trading lower than its 5 day, 20 day, 50 day, 100 day, and 200 day moving averages.
In comparison to the overall performance of the stock market, Kirloskar Ferrous Industries has significantly underperformed. On October 24, the stock's performance was -6.50%, while the Sensex's performance was only -0.05%. In the past month, the stock has also seen a decline of -16.07%, while the Sensex's performance was -5.74%.
Overall, Kirloskar Ferrous Industries Ltd has experienced a decline in its stock price on October 24, 2024, and has been underperforming in the market. Investors should carefully consider these factors before making any decisions regarding this stock.
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