Relaxo Footwears Experiences Revision in Its Stock Evaluation Amid Ongoing Downtrend

In a recent update, Relaxo Footwears has undergone a revision in its score, reflecting the ongoing challenges faced by the company in the consumer durables sector. The stock has been grappling with a significant decline, recently hitting a new 52-week low of Rs. 612. This downturn is part of a broader trend, as the stock has seen a consecutive drop over the past two days, contributing to a notable decrease in its value.
Over the past year, Relaxo Footwears has struggled to maintain its market position, with a substantial decline of over 31%. This performance starkly contrasts with the broader market, as represented by the Sensex, which has experienced a positive uptick during the same period. The stock's current trading levels are also concerning, as it remains below key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a persistent bearish sentiment among investors.

In light of these developments, Relaxo Footwears has been added to MarketsMOJO's list, signaling a shift in how analysts are evaluating its potential moving forward. Stakeholders and market watchers will be keenly observing any further adjustments in the stock's evaluation as the company navigates these turbulent waters.