Magadh Sugar & Energy Ltd reaches all-time high, outperforms sector with strong growth

Aug 30 2024 09:26 AM IST
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Magadh Sugar & Energy Ltd, a smallcap company in the sugar industry, has reached an all-time high price of Rs.986 on August 30, 2024. The stock has shown high volatility and is currently trading above its moving averages, indicating a positive trend. With a remarkable 99.12% increase in the past year, the company has potential for growth in the sugar industry. MarketsMojo has given a 'Hold' call for the stock.

Magadh Sugar & Energy Ltd, a smallcap company in the sugar industry, has reached an all-time high price of Rs.986 on August 30, 2024. This comes after the stock has been gaining for the last four days, with a 21.43% increase in returns during this period. Today, the stock opened with a gain of 4.97% and touched an intraday high of Rs.986, outperforming the sector by 6.68%.

The stock has shown high volatility today, with an intraday volatility of 37.68%, calculated from the weighted average price. This indicates a strong movement in the stock price, making it an attractive option for traders. Additionally, Magadh Sugar is currently trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend in the stock.

In comparison to the Sensex performance of 26.63%, Magadh Sugar & Energy has shown a remarkable 99.12% increase in the past year. This showcases the company's strong performance and potential for growth in the sugar industry.

MarketsMOJO has given a 'Hold' call for Magadh Sugar & Energy, suggesting that investors hold onto their current positions in the stock. With its recent surge in price and positive performance, Magadh Sugar & Energy is definitely a stock to watch out for in the sugar industry.
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