Palred Technologies Ltd Hits Lower Circuit Limit with Intraday Low of Rs 56.99
Palred Technologies Ltd faced notable trading activity as its stock hit the lower circuit limit, reflecting a decline amid increased selling pressure. The stock has been on a downward trend for six consecutive days, with significantly reduced investor participation and a marked decrease in delivery volume compared to previous averages.
Palred Technologies Ltd, a microcap player in the Computers - Software & Consulting industry, experienced significant trading activity today as the stock hit its lower circuit limit. The last traded price stood at Rs 61.8, reflecting a change of Rs 1.81, or a percentage change of 3.02%. However, the stock reached an intraday low of Rs 56.99, marking a decline of 5% from its previous levels.The stock has been on a downward trend, underperforming its sector by 4.92% and recording a consecutive fall over the past six days, resulting in a total decline of 15.37% during this period. Today's trading saw a total volume of approximately 0.03362 lakh shares, with a turnover of Rs 0.0192 crore. Notably, the weighted average price indicated that more volume was traded closer to the low price, highlighting increased selling pressure.
Despite being above the 20-day, 50-day, and 100-day moving averages, the stock remains below the 5-day and 200-day moving averages. Additionally, investor participation has decreased significantly, with delivery volume plummeting by 99.05% compared to the five-day average. Overall, Palred Technologies Ltd's performance today underscores a challenging market environment for the stock.
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