Morarjee Textiles Ltd Stock Hits Lower Circuit Limit at Rs 9.05
Morarjee Textiles Ltd faced notable trading activity as its stock hit the lower circuit limit, closing at Rs 9.05 after a decline. The session recorded low trading volume and significant drops in delivery volume, indicating challenges in investor participation and liquidity, despite some moving averages showing strength.
Morarjee Textiles Ltd, a microcap player in the Garments & Apparels industry, experienced significant trading activity today as the stock hit its lower circuit limit. The last traded price (LTP) stood at Rs 9.05, reflecting a decline of Rs 0.48 or 5.04% from the previous close. The stock's performance today underperformed the sector, which recorded a 1D return of 0.84%.The trading session saw a total volume of approximately 0.11774 lakh shares, resulting in a turnover of Rs 0.010926272 crore. The stock reached an intraday high of Rs 9.29 but fell to its low of Rs 9.05, marking a notable shift after three consecutive days of gains.
Morarjee Textiles has shown erratic trading patterns, with no activity on two out of the last 20 trading days. Additionally, the delivery volume on October 9 dropped significantly, down by 98.71% compared to the five-day average. Despite being above the 5-day, 50-day, 100-day, and 200-day moving averages, the stock remains below the 20-day moving average, indicating a potential trend reversal.
Overall, Morarjee Textiles Ltd's performance today highlights a challenging trading environment, with a marked decrease in investor participation and liquidity concerns.
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