Menon Bearings Hits New Low Amid Ongoing Challenges in Auto Ancillary Sector
Menon Bearings, a microcap in the auto ancillary sector, has reached a new 52-week low, continuing a downward trend with a 9.11% decline over three days. The stock is trading below all major moving averages and has dropped 24.37% over the past year, contrasting with broader market gains.
Menon Bearings, a microcap player in the auto ancillary sector, has experienced significant activity today, reaching a new 52-week low of Rs. 107.85. This decline marks a continuation of a downward trend, with the stock losing ground for three consecutive days, resulting in a total drop of 9.11% during this period. Today's trading saw the stock hit an intraday low of Rs. 107.85, reflecting a decrease of 4.26%. In terms of moving averages, Menon Bearings is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a persistent bearish trend.
Over the past year, Menon Bearings has faced a challenging performance, with a decline of 24.37%, contrasting sharply with the Sensex, which has gained 6.97% in the same timeframe. The broader auto ancillary sector has also seen a downturn, with a decrease of 3.19%. These metrics highlight the ongoing challenges faced by Menon Bearings in a competitive market environment.
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