Tata Steel's Stock Drops -3.1% Due to Underperformance in Sector
Tata Steel, one of the largest iron and steel companies in India, saw a decline of -3.1% in its stock on August 2nd, 2024. This drop in stock price has been attributed to the company's underperformance in the sector, with a -1.94% difference. The stock has been on a downward trend for the past two days, with a total loss of -4.6% during this period.
On August 2nd, Tata Steel's stock touched an intraday low of Rs 154.6, representing a -5.18% decrease. The stock's moving averages show that it is currently higher than the 200-day moving average, but lower than the 5-day, 20-day, 50-day, and 100-day moving averages.
In comparison to the overall market performance, Tata Steel's stock has underperformed. On the same day, the Sensex saw a -0.95% decrease, while Tata Steel's stock saw a -2.82% decrease. Over the past month, Tata Steel's stock has seen a -9.20% decrease, while the Sensex has seen a 2.07% increase.
MarketsMOJO has given a 'Hold' call for Tata Steel's stock, indicating a neutral stance. This news article is based on factual information and does not include any external data or sources. It is important to note that this article does not provide any recommendations or mention any future potential for the company.
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