Polycab India's Stock Sees Dip in Line with Cable Sector Trend, 'Hold' Call from MarketsMOJO
Polycab India, a leading player in the cable industry, saw a dip in its stock price on November 12, 2024. The stock closed at Rs 6491.9, down by -3.23% from the previous day's closing. This underperformance was in line with the overall trend in the cable sector, which fell by -2.24%.
MarketsMOJO, a leading financial advisory firm, has given a 'Hold' call for Polycab India's stock. The company's stock is currently trading above its 200-day moving average, but below its 5-day, 20-day, 50-day, and 100-day moving averages. This indicates a mixed trend in the stock's performance.
On a broader scale, Polycab India's stock has underperformed the Sensex, India's benchmark index, by -3.09% in the past 1 day and -12.54% in the past 1 month. This is in line with the overall market trend, as the Sensex has also seen a decline of -1.04% and -3.33% in the same time periods.
Despite the recent dip in stock price, Polycab India remains a strong player in the cable industry with a large market capitalization. Investors are advised to hold their positions in the company's stock and monitor its performance closely. This news article is for informational purposes only and does not constitute any recommendation or expert opinion.
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