Promax Power Stock Plummets to New 52-Week Low at Rs. 23.5
Promax Power, a microcap construction company, has hit a new 52-week low, reflecting significant stock performance challenges. The stock has underperformed its sector and has shown erratic trading activity. Over the past year, it has declined substantially, raising concerns about its financial health and debt servicing capabilities.
Promax Power, a microcap company in the construction industry, has reached a new 52-week low of Rs. 23.5 today, marking a significant decline in its stock performance. This drop 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, the stock opened with a notable loss of 7.65% and touched an intraday low of Rs. 23.5, down 12.31% from the previous close. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent downward trend.
Over the past year, Promax Power has seen a decline of 45.60%, contrasting sharply with the Sensex's positive performance of 9.36%. 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. As the market continues to evolve, Promax Power's recent performance underscores the challenges it faces in a competitive landscape.
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