Plaza Wires Hits 52-Week Low Amid Broader Cable Sector Challenges
Plaza Wires, a microcap in the cable industry, has hit a new 52-week low, continuing a four-day decline with a cumulative loss. The stock is trading below multiple moving averages, reflecting a bearish trend, while the broader cable sector has also faced challenges over the past year.
Plaza Wires, a microcap player in the cable industry, has reached a new 52-week low of Rs. 70.35 on January 13, 2025, marking a notable decline. The stock has been on a downward trajectory for four consecutive days, resulting in a cumulative loss of 7.56%. Although it opened with a gain of 2.22% today, the overall performance has been lackluster, with an intraday high of Rs. 73.55 and a low of Rs. 70.35.Currently, Plaza Wires is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a prevailing bearish trend. The broader cable sector has also faced challenges, declining by 4.43%. Over the past year, Plaza Wires has experienced a significant drop of 38.93%, in stark contrast to the Sensex, which has gained 5.35% during the same period. These trends highlight the ongoing struggles faced by Plaza Wires in the current market environment.
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