Smallcap engineering company, Permanent Magnets Ltd, sees 16.17% increase in stock price

Permanent Magnets Ltd, a smallcap engineering company, has seen a significant increase in its stock price on March 26, 2024. The stock has gained 16.17%, outperforming the sector by 15.95%. This marks the fourth consecutive day of gains for the company, with a total increase of 32.05% in this period.

The stock opened with a gap up of 7.01% and reached an intraday high of Rs 1250, which is a 16.31% increase from the previous day's closing price. The stock's moving averages are currently higher than the 5-day, 20-day, and 50-day averages, but lower than the 100-day and 200-day averages.

In comparison to the Sensex performance, Permanent Magnets Ltd has outperformed with a 1-day performance of 14.92% while the Sensex has seen a decline of 0.39%. Similarly, in the past month, the company's performance has been 14.55% compared to the Sensex's decline of 0.33%.

MarketsMOJO has given a 'Strong Sell' call for Permanent Magnets Ltd, indicating caution for potential investors. However, it is important to note that this is not a recommendation from experts or based on investor interest. The stock's performance is solely based on factual data and the company's current standing in the market.