Shriram Finance Stock Sees Dip, But Long-Term Performance Remains Strong

Shriram Finance, a leading non-banking financial company (NBFC) in the finance industry, has recently seen a dip in its stock price. On October 17, 2024, the company's stock lost -3.04%, underperforming the sector by -1.62%. This has led to a 'Buy' call by MarketsMOJO for investors.

Despite the recent dip, Shriram Finance's stock has been performing well in the long term. It is currently trading higher than its 50-day, 100-day, and 200-day moving averages. However, it is lower than its 5-day and 20-day moving averages.

In the last 2 days, the stock has fallen by -3.27%, indicating a consecutive fall. On October 17, the stock touched an intraday low of Rs 3292, a decrease of -2.86%. This may be a good opportunity for investors to buy the stock at a lower price.

In comparison to the Sensex, Shriram Finance's 1-day performance is -3.10%, while the Sensex's performance is -0.57%. Similarly, in the last 1 month, Shriram Finance's performance is -4.09%, while the Sensex's performance is -2.46%. This shows that the company's stock has been slightly underperforming in the short term, but has a strong long-term performance.

Investors should keep an eye on Shriram Finance's stock as it has the potential to bounce back and continue its upward trend. With a 'Buy' call from MarketsMOJO and a strong position in the finance industry as a largecap company, Shriram Finance is a promising investment option for those looking for stability and growth in their portfolio.