Shree Steel Wire Ropes Hits New 52-Week Low at Rs. 24.8
Shree Steel Wire Ropes has hit a new 52-week low of Rs. 24.8, following a recent period of gains. The stock has underperformed its sector and experienced significant volatility, trading below key moving averages. Over the past year, it has declined substantially, highlighting ongoing challenges in its market position.
Shree Steel Wire Ropes has reached a new 52-week low, hitting Rs. 24.8 today, marking a significant decline in its stock performance. This drop comes after a brief period of three consecutive days of gains, indicating a reversal in trend. The stock underperformed its sector by 9.23% today, reflecting broader challenges within the market.Intraday trading revealed high volatility, with the stock experiencing a fluctuation of 6.55%. The day's low of Rs. 24.8 represents a 12.37% decrease from previous levels. Additionally, Shree Steel Wire Ropes is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a persistent downward trend.
Over the past year, the stock has seen a decline of 32.35%, contrasting sharply with the Sensex, which has gained 3.76% during the same period. The company's financial metrics indicate weak long-term fundamental strength, with operating losses and a low return on equity of 2.99%. As the market continues to evolve, Shree Steel Wire Ropes faces ongoing challenges in its performance and market position.
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