Sharda Motor Industries' Stock Sees -5.19% Decline Amid Underperformance in Auto Ancillary Sector
Sharda Motor Industries, a midcap company in the auto ancillary industry, has seen a decline of -5.19% in its stock price on July 8th, 2024. This drop in stock price has been attributed to the company's underperformance in the sector, with a -4.1% difference. The stock has also been on a consecutive downward trend for the past two days, with a total fall of -5.44% during this period.
On July 8th, the stock hit an intraday low of Rs 2425.1, a decrease of -6.03% from its previous closing price. However, despite this recent decline, Sharda Motor Industries' stock is still performing well in the long term. It is currently trading higher than its 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend.
In comparison to the overall market performance, Sharda Motor Industries' stock has underperformed. On the same day, the Sensex, India's benchmark index, saw a decrease of only -0.12%. However, in the past month, the company's stock has shown a significant increase of 53.45%, while the Sensex has only grown by 4.18%.
MarketsMOJO, a leading financial analysis platform, has given a 'Hold' call for Sharda Motor Industries' stock. This neutral recommendation is based on the company's recent performance and market trends. As a midcap company in the auto ancillary industry, Sharda Motor Industries continues to show potential for growth in the long term.
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