Mishra Dhatu Nigam's stock hits 52-week low, underperforming sector and market
Mishra Dhatu Nigam, a midcap steel company, has hit a 52-week low on October 22, 2024. The stock has been underperforming the sector by -1.87% and has been on a downward trend for the past four days, with a -7.75% return. The company's stock is currently trading below its moving averages, indicating a bearish trend. MarketsMojo has given a 'Strong Sell' call for the stock.
Mishra Dhatu Nigam, a midcap steel company, has recently hit a 52-week low on October 22, 2024. The stock has been underperforming the sector by -1.87% and has been on a downward trend for the past four days, with a -7.75% return during this period. Today, the stock touched an intraday low of Rs 344.5, a decrease of -4.87%.
The company's stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. The steel/sponge iron/pig iron sector has also seen a decline of -2.54%.
In the past year, Mishra Dhatu Nigam has seen a negative return of -17.95%, while the Sensex has performed positively with a return of 23.25%. This indicates that the company's stock has not been performing well compared to the overall market.
MarketsMOJO has given a 'Strong Sell' call for Mishra Dhatu Nigam's stock. Investors should be cautious and keep an eye on the company's performance in the coming days. This news is based on factual information and does not include any speculation or recommendations.
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