Midcap Textile Company Lux Industries Sees -5.41% Drop in Stock Price
Lux Industries, a midcap textile company, has experienced a -5.41% decrease in its stock price on October 7th, 2024. This is due to the underperformance of the textile sector, which has fallen by -2.33%. Despite this, the stock is still rated as 'Hold' by MarketsMojo and is performing better than the sector average.
Lux Industries, a midcap textile company, has seen a decline in its stock price by -5.41% on October 7th, 2024. This drop in stock price has been attributed to the overall underperformance of the textile sector, which has fallen by -2.33%.
According to MarketsMOJO, a leading financial analysis platform, the stock of Lux Industries is currently rated as 'Hold'. The stock has been a part of the Hidden Turnaround list on MarketsMOJO since May 31st, 2024.
On October 7th, the stock touched an intraday low of Rs 2088, which is a decrease of -4.82%. However, the stock is still performing better than the sector average, with its moving averages being higher than the 100 day and 200 day moving averages.
In comparison to the overall market performance, Lux Industries has underperformed with a -5.56% decrease in its stock price, while the Sensex has only seen a -0.25% decrease. Over the past month, the stock has seen a decline of -10.31%, while the Sensex has seen a slight increase of 0.37%.
Despite the recent decline in stock price, Lux Industries remains a midcap company in the textile industry. Investors are advised to hold onto their stocks and monitor the company's performance in the coming months.
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