Tejas Networks' Stock Declines -3.4% Amidst Underperformance in IT Sector

Tejas Networks, a largecap IT hardware company, saw a decline of -3.4% in its stock on October 25, 2024. According to MarketsMOJO, the stock is currently rated as 'Hold'. It has been a part of the Momentumnow Stocks on MarketsMOJO since May 10, 2024.

In terms of performance, Tejas Networks underperformed the IT - Hardware sector by -0.55% on the day. The stock has been on a downward trend for the past two days, with a fall of -5.36% during this period. It also touched an intraday low of Rs 1251.45, showing a decline of -3.09%.

However, Tejas Networks' moving averages are higher than the 5-day, 20-day, 50-day, and 200-day moving averages, indicating a positive trend in the long term. But it is currently lower than the 100-day moving average.

In the IT - Hardware sector, there has been a decline of -2.83%, which could have contributed to the fall in Tejas Networks' stock.

Comparing the performance of Tejas Networks with the Sensex, the stock has underperformed with a decline of -3.35% compared to the Sensex's -0.61% on the day. However, in the past month, Tejas Networks has outperformed the Sensex with a growth of 1.60% while the Sensex has declined by -6.57%.

Overall, Tejas Networks' stock has seen a decline in the short term but has shown positive performance in the long term. Investors should keep an eye on the stock's movement and the performance of the IT - Hardware sector in the coming days.