Promax Power Hits New 52-Week Low at Rs. 23.5 Amid Market Gains
Promax Power, a microcap company in the construction industry, has reached a new 52-week low of Rs. 23.5 today, marking a significant downturn in its stock performance. This decline comes as the stock underperformed its sector by 12.6%, reflecting broader challenges within the company. Trading activity has been erratic, with Promax Power not trading on three out of the last 20 days. Today, it opened with a notable gap down, losing 7.65% at the start of the trading session. The stock's intraday low of Rs. 23.5 represents a 12.31% decrease from the previous close.
In terms of moving averages, Promax Power is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a sustained downward trend. Over the past year, the stock has experienced a significant decline of 45.60%, contrasting sharply with the Sensex, which has gained 9.35% during the same period.
The company's financial health is further highlighted by a high Debt to EBITDA ratio of 3.24 times, raising concerns about its ability to service debt. Overall, Promax Power's recent performance underscores ongoing challenges within the company.
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