Manaksia Experiences Revision in Its Stock Evaluation Amid Ongoing Market Challenges

Manaksia, a player in the aluminium and aluminium products sector, has recently undergone a revision in its score, reflecting the ongoing challenges the company faces in a competitive market. As the stock reached a 52-week low, closing at Rs 83 on December 20, 2024, it has drawn attention to its performance metrics, which have shown a significant decline.
The stock has been on a downward trajectory, with a notable drop of 7.14% over the past four days alone. On December 20, Manaksia underperformed its sector by 3.02%, hitting an intraday low of Rs 84.97, which marked a decrease of 4.93% for the day. This sustained decline is further underscored by the fact that the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent bearish trend.

In the broader context of annual performance, Manaksia has seen a decline of 33.98% over the past year, contrasting sharply with the Sensex, which has gained 10.69% during the same period. This stark difference highlights the difficulties the company is encountering in maintaining its market position.

In light of these developments, Manaksia has been added to MarketsMOJO's list, signaling a need for investors to closely monitor its performance and potential recovery strategies. The current market conditions serve as a reminder of the volatility and challenges present in the aluminium industry, as Manaksia navigates through this turbulent phase.