Schaeffler India's Stock Declines by -3.35% on October 28, 2024, Reflecting Underperformance in the Market
Schaeffler India, a leading bearings manufacturer, has seen a -3.35% decline in its stock price on October 28, 2024. This underperformance is reflected in the stock's current 'Hold' rating by MarketsMojo. The stock has been on a downward trend for the past three days and is trading below its moving averages, indicating a bearish trend. Despite this, Schaeffler India remains a largecap company in the bearings industry.
Schaeffler India, a leading manufacturer of bearings in India, has seen a decline in its stock price by -3.35% on October 28, 2024. This underperformance is reflected in the stock's current call of 'Hold' by MarketsMOJO.
The stock has been on a downward trend for the past three days, with a fall of -9.1% during this period. On the day of October 28, the stock touched an intraday low of Rs 3497.9, showing a decline of -2.96%. This is in contrast to the performance of the overall sector, where Schaeffler India has underperformed by -1.01%.
In terms of moving averages, Schaeffler India is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This indicates a bearish trend in the stock's performance.
On the same day, Schaeffler India's 1-day performance was -3.19%, while the Sensex's performance was 0.95%. Similarly, the stock's 1-month performance was -9.73%, while the Sensex's performance was -6.33%. This further highlights the underperformance of Schaeffler India's stock in comparison to the overall market.
Despite these recent declines, Schaeffler India remains a largecap company in the bearings industry. As a neutral and informative news article, it is important to note that this information is based on facts and not influenced by any potential future growth or expert opinions. Investors are advised to do their own research and make informed decisions.
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