Manali Petrochemicals Hits 52-Week Low Amid Broader Industry Decline

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.