Techno Electric Hits New Low Amid Broader Capital Goods Sector Decline
Techno Electric & Engineering Company Ltd faced notable trading activity as its stock hit the lower circuit limit, closing at Rs 910.25 after reaching a new 52-week low. The stock has experienced a downward trend over the past three days, reflecting broader challenges in the Capital Goods sector.
Techno Electric & Engineering Company Ltd, a mid-cap player in the Capital Goods sector, experienced significant trading activity today as its stock hit the lower circuit limit. The stock closed at Rs 910.25, reflecting a decline of Rs 71.15 or 7.25%. Notably, it reached an intraday low of Rs 785.15, marking a new 52-week low.The stock opened with a substantial gap down, losing 20% at the start of trading. Throughout the day, it traded within a wide range of Rs 144.4, with a total traded volume of approximately 1.36 lakh shares and a turnover of Rs 12.23 crore. The weighted average price indicated that more volume was concentrated near the low price.
Techno Electric has been on a downward trend, with a consecutive fall over the last three days, resulting in a total decline of 10.4% during this period. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, reflecting a challenging market position.
In comparison, the Capital Goods sector has also faced pressure, declining by 12.31%. Overall, Techno Electric's performance today underscores the volatility and challenges within the market.
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