Tejas Networks Faces Decline Amid Broader IT Hardware Sector Challenges
Tejas Networks, a midcap IT hardware company, saw a decline on January 21, 2025, reversing a three-day gain streak. The stock's performance is mixed against various moving averages, and it has dropped significantly over the past month, contrasting with the broader market trends in the IT sector.
Tejas Networks, a midcap player in the IT hardware sector, experienced a notable decline of 5.03% on January 21, 2025, underperforming the sector by 3.35%. This marks a trend reversal following three consecutive days of gains. During intraday trading, the stock hit a low of Rs 1069.25, reflecting a drop of 5.55%.In terms of moving averages, Tejas Networks is currently above its 5-day moving average but below the 20-day, 50-day, 100-day, and 200-day moving averages, indicating mixed short- to long-term performance. The broader IT hardware sector also faced challenges, with a decrease of 2.48% on the same day.
Over the past month, Tejas Networks has seen a significant decline of 11.75%, contrasting with the Sensex, which has only dropped by 1.79%. The stock has been part of the Momentumnow Stocks since May 10, 2024, reflecting its ongoing relevance in the market despite recent challenges.
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