Refex Industries sees -6.2% decline in stock price, given 'Hold' call by MarketsMOJO

Sep 18 2024 01:15 PM IST
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Refex Industries, a midcap company in the industrial gases and fuels industry, has seen a -6.2% decline in its stock price on September 18, 2024. Despite this, it has been included in MarketsMojo's Hidden Turnaround list and is currently trading above its moving averages, indicating potential for a positive trend.

Refex Industries, a midcap company in the industrial gases and fuels industry, has seen a decline of -6.2% in its stock price on September 18, 2024. This has led to a 'Hold' call by MarketsMOJO, a leading stock market analysis platform.

According to MarketsMOJO, Refex Industries has been a part of their Hidden Turnaround list since August 7, 2024. This list includes companies that have shown potential for a turnaround in their performance.

In terms of price performance, Refex Industries has underperformed the sector by -5.34% on September 18, 2024. The stock has also been on a downward trend for the past 2 days, with a fall of -6.08% during this period. On the same day, the stock touched an intraday low of Rs 455.8, a decline of -4.58%.

However, Refex Industries is currently trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This indicates a positive trend in the stock's performance.

In comparison to the overall market performance, Refex Industries has seen a decline of -6.35% on September 18, 2024, while the Sensex has only seen a decline of -0.08%. However, over the past month, Refex Industries has outperformed the Sensex with a growth of 68.18% compared to the Sensex's growth of 3.20%.

Overall, Refex Industries has seen a decline in its stock price on September 18, 2024, and has been given a 'Hold' call by MarketsMOJO. However, the stock has shown potential for a turnaround and is currently trading above its moving averages. Investors should keep an eye on the company's performance in the coming days.
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