Laxmi Organic Industries Faces Continued Stock Decline Amid Broader Market Resilience
Laxmi Organic Industries, a midcap specialty chemicals firm, has seen its stock decline for two consecutive days, totaling a 6.51% drop. The stock underperformed compared to the broader market and has experienced a significant decline of nearly 25% over the past year, contrasting with the Sensex's minimal decrease.
Laxmi Organic Industries, a midcap player in the specialty chemicals sector, has experienced a notable decline today, with its stock price dropping by 6.19%. This performance marks a continuation of a downward trend, as the stock has now fallen for two consecutive days, resulting in a total decline of 6.51% over this period. Opening the day with a significant gap down of 5.75%, the stock reached an intraday low of Rs 191.45, reflecting a decrease of 6.29%. In comparison to the broader market, Laxmi Organic Industries underperformed, lagging behind the sector by 6.72%.
In terms of moving averages, the stock is currently positioned higher than its 100-day moving average but lower than its 5-day, 20-day, 50-day, and 200-day moving averages, indicating mixed short-term performance.
Over the past year, Laxmi Organic Industries has seen a substantial decline of 24.97%, contrasting sharply with the Sensex, which has only decreased by 0.62% in the same timeframe. Year-to-date, the stock is down 20.46%, while the Sensex has gained 3.47%.
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