Rajasthan Tube Manufacturing Co Ltd Faces Selling Pressure with 5% Decline Amid Ongoing Losses

Rajasthan Tube Manufacturing Co Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a notable decline of 5.00% in its stock price, contrasting sharply with the Sensex, which has gained 0.13%. This marks a continuation of losses, as the stock has now recorded three consecutive days of declines.
Over the past week, Rajasthan Tube Manufacturing Co has decreased by 0.80%, while the Sensex has seen a larger drop of 1.99%. In the last month, the stock has fallen by 3.61%, compared to a modest gain of 0.83% for the Sensex. The three-month performance reveals a stark decline of 30.10% for Rajasthan Tube, against a 3.75% decrease in the Sensex.

Despite a remarkable one-year performance of 927.03%, the recent trend indicates a reversal, as the stock opened today with a gain of 4.33% but quickly fell to an intraday low of Rs 39.52. The stock's current price is higher than its 200-day moving average but lower than its 5-day, 20-day, 50-day, and 100-day moving averages, suggesting a shift in market sentiment. The underperformance today, by 5.9% against its sector, highlights the prevailing selling pressure.