Tejas Networks' Stock Sees Positive Movement, Outperforms IT - Hardware Sector

Tejas Networks, a leading IT hardware company, saw a positive trend in its stock performance on October 18, 2024. The stock gained 6.74%, closing at Rs 1205.05 on the BSE. This positive movement was in line with the overall performance of the IT - Hardware sector, which saw a gain of 2.75% on the same day. According to MarketsMOJO, a leading stock analysis platform, Tejas Networks' stock is currently rated as 'Hold'. The stock has been a part of the Momentumnow Stocks list on MarketsMOJO since May 10, 2024. In terms of price performance, Tejas Networks outperformed the sector by 5.9% on October 18. The stock also showed a trend reversal, gaining after three consecutive days of fall. It reached an intraday high of Rs 1211.05, showing a high volatility of 5.61%. Tejas Networks' stock is currently trading above its 5-day, 20-day, and 200-day moving averages, indicating a positive trend. However, it is trading below its 50-day and 100-day moving averages. In comparison to the overall market performance, Tejas Networks' stock has outperformed the Sensex by 6.38% in the last 1 day and has a 1-month performance of -2.63% compared to the Sensex's -2.84%. Overall, Tejas Networks' stock has shown a positive trend and has been performing well in the IT - Hardware sector. Investors may want to keep an eye on the stock's movement in the coming days.