Saregama India Hits 52-Week Low of Rs. 405 Amid Ongoing Decline
Saregama India has hit a new 52-week low of Rs. 405, reflecting a notable decline in stock performance. The company has underperformed its sector and experienced a consecutive three-day drop. Recent financial results indicate a decline in net sales and profit after tax, contributing to a bearish trend in its stock.
Saregama India has reached a new 52-week low, hitting Rs. 405 today, marking a significant decline in its stock performance. This drop comes as the company has underperformed its sector by 2.89% and has seen a consecutive fall over the last three days, resulting in a total decline of 10.25% during this period. The stock also touched an intraday low of Rs. 405, reflecting a decrease of 5.17% for the day.In terms of moving averages, Saregama India is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Over the past year, the stock has generated a return of -19.52%, contrasting sharply with the Sensex's performance of 4.22%.
The company's recent financial results have shown a decline in net sales, which fell by 21.5% compared to the previous four-quarter average, and a decrease in profit after tax by 12.6%. With a return on equity of 1.2 and a price-to-book value of 0.5, Saregama India appears to be trading at a premium compared to its peers.
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