Schaeffler India's Stock Declines by -3.29% Despite Strong Long-Term Performance

Schaeffler India, a leading manufacturer of bearings, has seen a decline in its stock price by -3.29% on August 26, 2024. This underperformance is reflected in the stock call given by MarketsMOJO, which has rated the stock as 'Hold'.

The stock touched an intraday low of Rs 3945.8, showing a decrease of -3.29%. However, the company's stock is still performing well in the long term, with its moving averages higher than the 200-day moving average. But in the short term, it is lower than the 5-day, 20-day, 50-day, and 100-day moving averages.

In comparison to the overall market performance, Schaeffler India's stock has underperformed, with a -3.36% decrease in just one day, while the Sensex has shown a positive performance of 0.83%. In the past month, the stock has also seen a decline of -5.59%, while the Sensex has shown a slight increase of 0.52%.

Despite the recent decline in stock price, Schaeffler India remains a largecap company in the bearings industry. As a leading manufacturer, the company continues to provide high-quality products and services to its customers. With its strong presence in the market, Schaeffler India is expected to bounce back and continue its growth in the future.