Responsive Industries' Stock Sees Decline Amidst Underperformance and 'Sell' Rating by MarketsMOJO

Responsive Industries, a midcap company in the plastic products industry, has recently seen a decline in its stock price. On August 21, 2024, the company's stock lost -5.62%, closing at Rs 271.5. This decline has been reflected in the stock call given by MarketsMOJO, which has rated the stock as 'Sell'.

According to MarketsMOJO, Responsive Industries has been a part of the Hidden Turnaround list since April 3, 2023. This list includes companies that have shown potential for a turnaround in their performance. However, the recent decline in the stock price suggests that the company may not have been able to sustain this potential.

In terms of price performance, Responsive Industries has underperformed the sector by -5.85% on August 21. The stock has also been on a downward trend for the past three days, with a fall of -7.79% during this period. On the same day, the stock touched an intraday low of Rs 269.5, which is a decline of -5.06%.

The moving averages for Responsive Industries show that the stock is currently trading below the 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This indicates a bearish trend for the stock.

In comparison to the overall market performance, Responsive Industries has also shown a negative trend. On August 21, the stock's performance was -6.01%, while the Sensex's performance was only -0.10%. Similarly, in the past month, the stock's performance was -3.33%, while the Sensex's performance was 0.14%.

Overall, the recent decline in Responsive Industries' stock price and its underperformance in the market suggest a cautious approach for investors. It is important to keep an eye on the company's future performance and any potential changes in its turnaround status.