Manali Petrochemicals Hits 52-Week Low Amid Broader Industry Decline

Jan 13 2025 03:05 PM IST
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Manali Petrochemicals has hit a 52-week low, with its stock price declining significantly over the past week. Despite this downturn, it outperformed its sector while the broader petrochemical industry struggled. The stock has fallen notably over the past year, indicating a bearish trend and cautious market sentiment.
Manali Petrochemicals has reached a 52-week low, with its stock price hitting Rs. 55.33 on January 13, 2025. This decline marks a significant downturn for the microcap company, which has seen a consecutive fall over the past seven days, resulting in a total drop of 13.9% during this period.

Despite this challenging environment, the stock outperformed its sector by 1.11%, while the broader petrochemical industry faced a downturn of 4.94%. Over the past year, Manali Petrochemicals has experienced a notable decline of 32.94%, contrasting sharply with the Sensex's gain of 5.27% in the same timeframe.

Currently, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, the stock touched an intraday low of Rs. 55.33, reflecting a decrease of 4.41% for the day. The current market sentiment surrounding the company suggests a cautious outlook.
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