Relicab Cable Manufacturing Ltd's Stock Reaches All-Time High Amid Strong Performance in Cable Industry

Sep 23 2024 03:20 PM IST
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Relicab Cable Manufacturing Ltd, a microcap company in the cable industry, has reached an all-time high stock price on September 23, 2024. Despite a Sell rating from MarketsMojo, the stock has outperformed the sector and is trading above its moving averages. With a strong performance and potential for growth, Relicab Cable is a company to watch in the cable market.

Relicab Cable Manufacturing Ltd, a microcap company in the cable industry, has recently seen its stock price reach an all-time high on September 23, 2024. This news comes as the stock has been given a "Sell" rating by MarketsMOJO.

According to price data, Relicab Cable is currently trading at a price that is 1.97% away from its 52-week high of Rs 155. However, the stock has underperformed the sector by -2.5% in today's trading. It is also worth noting that the stock has fallen after three consecutive days of gains, indicating a possible trend reversal.

In terms of moving averages, Relicab Cable is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This suggests that the stock has been performing well in the short and long term.

In comparison to the Sensex, Relicab Cable has shown a strong performance over the past year, with a growth of 70.91% compared to the Sensex's 28.59%. This showcases the company's potential for growth and success in the cable industry.

As a microcap company, Relicab Cable Manufacturing Ltd may not be as well-known as some of its larger competitors. However, its recent stock price performance and positive outlook in the industry make it a company to watch out for. Investors should keep an eye on Relicab Cable as it continues to make strides in the cable market.
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