Steel Authority of India Hits 52-Week Low Amid Ongoing Industry Challenges

Jan 13 2025 09:36 AM IST
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Steel Authority of India Ltd. (SAIL) has hit a new 52-week low, marking a notable decline over the past four days. The stock is trading below all major moving averages and has seen an 8.70% drop over the past year, contrasting with the Sensex's gains.
Steel Authority of India Ltd. (SAIL) has recently reached a new 52-week low of Rs. 103.7, marking a significant downturn for the company. The stock has declined for four consecutive days, resulting in a total decrease of 6.23% during this period. On the current trading day, SAIL underperformed its sector by 0.59%, with an intraday low of Rs. 103.7, reflecting a drop of 2.17%.

The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Over the past year, SAIL has experienced an 8.70% decline, contrasting sharply with the Sensex, which has gained 5.86% during the same timeframe. This performance continues to raise concerns among market observers as the company navigates challenging conditions in the steel industry.
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