Tejas Networks Faces Sustained Bearish Trend Amid Broader Market Decline

Jan 28 2025 10:05 AM IST
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Tejas Networks has faced notable volatility, with its stock declining for four consecutive days, resulting in a cumulative drop of 23.78%. The stock underperformed its sector and is trading below key moving averages, reflecting ongoing challenges in the market, including a significant monthly decline of 30.31%.
Tejas Networks, a midcap player in the IT - Hardware sector, has experienced significant volatility today, with its stock price declining by 7.03% as of January 28, 2025. This decline marks a continuation of a downward trend, as the stock has now fallen for four consecutive days, resulting in a cumulative drop of 23.78% over this period.

In today's trading session, Tejas Networks underperformed its sector, which saw an overall decline of 6.2%. The stock reached an intraday low of Rs 835.05, reflecting a decrease of 6.69% at its lowest point. Additionally, Tejas Networks is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a sustained bearish trend.

Over the past month, the stock has seen a notable decline of 30.31%, contrasting sharply with the Sensex, which has only decreased by 3.62% during the same timeframe. These performance indicators highlight the challenges faced by Tejas Networks in the current market environment.
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