Thermax Ltd. Hits Day Low at Rs 2986 Amid Price Pressure
Thermax Ltd., a midcap in the heavy electrical equipment sector, saw its stock price fall significantly today, contrasting with a rising broader market. The stock has underperformed over various time frames and is nearing its 52-week low, indicating ongoing challenges amid a generally favorable market environment for larger companies.
Thermax Ltd., a midcap player in the heavy electrical equipment industry, experienced a significant decline in its stock price today, dropping by 5.77% to touch an intraday low of Rs 2986. This performance marks a stark contrast to the broader market, as the Sensex rose by 0.75% during the same period. The stock opened with a gap down of 3%, indicating a challenging start to the trading day. Thermax's performance has been underwhelming over various time frames, with a 1-day decline of 5.33%, a 1-week drop of 7.96%, and a notable 41.42% decrease over the past year. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, reflecting a sustained downward trend.
Additionally, Thermax is now just 1.87% away from its 52-week low of Rs 2930.05, further highlighting the stock's recent struggles in a market where mega-cap stocks are leading the gains.
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