Relaxo Footwears Hits 52-Week Low Amid Ongoing Sector Challenges
Relaxo Footwears has reached a new 52-week low, continuing a downward trend with a seven-day decline. The stock is underperforming compared to the broader consumer durables sector and has fallen significantly over the past year, contrasting with gains in the Sensex, highlighting ongoing challenges in the market.
Relaxo Footwears, a midcap player in the consumer durables sector, has experienced significant activity today, reaching a new 52-week low of Rs. 547.4. This decline marks a continuation of a downward trend, with the stock losing ground for the past seven consecutive days, resulting in a total drop of 5.47% during this period. Today's performance aligns with the broader consumer durables sector, which has also seen a decrease of 2.4%. The stock's intraday low of Rs. 547.4 reflects a decline of 2.25% from the previous close. Additionally, Relaxo Footwears is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a sustained bearish trend.
Over the past year, Relaxo Footwears has faced a challenging market environment, with a notable decline of 35.42%, contrasting sharply with the Sensex, which has gained 7.32% during the same timeframe. These metrics highlight the ongoing challenges faced by the company within the competitive landscape of the consumer durables industry.
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