LWS Knitwear Hits 52-Week Low Amid Broader Market Bearish Sentiment

LWS Knitwear, a microcap player in the textile industry, has experienced significant activity today, hitting a new 52-week low of Rs. 15.05. The stock has underperformed its sector by 2.39% and has seen a consecutive decline over the past two days, resulting in a total drop of 3.37%. Currently, LWS Knitwear is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. In the broader market context, the Sensex opened positively, trading at 75,487.98, up 0.25%. However, it remains below its 50-day moving average, reflecting a bearish sentiment overall. LWS Knitwear's performance over the past year has been notably poor, with a decline of 55.12%, contrasting sharply with the Sensex's gain of 4.83%. Despite these challenges, the company has reported positive results for the last six consecutive quarters, with a significant growth in net sales and profits. Promoter confidence appears to be rising, as they have increased their stake in the company by 0.61% in the last quarter, now holding 58.44%.