Tejas Networks Faces Sustained Underperformance Amid Broader Market Declines

Jan 13 2025 12:05 PM IST
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Tejas Networks has faced significant volatility, with a recent decline contributing to a 14.15% loss over four days. The stock has underperformed its sector and the broader market, dropping 23.95% in the past month and trading below key moving averages, indicating ongoing challenges.
Tejas Networks, a midcap player in the IT hardware sector, has experienced notable volatility, with a decline of 5.45% on January 13, 2025. This drop is part of a broader downward trend, as the stock has lost 14.15% over the past four days. On this day, it opened with a gap down of 2.21% and reached an intraday low of Rs 1002.6, reflecting a decrease of 5.63%.

In terms of market performance, Tejas Networks has underperformed relative to its sector, which saw a decline of 2.05%. Over the past month, the stock has dropped by 23.95%, significantly outpacing the Sensex's decline of 6.52%. Currently, Tejas Networks is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a sustained period of underperformance. Investors are encouraged to keep a close watch on the stock's performance amid these trends.
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