Thermax Ltd. Stock Declines by -3.38% Amidst Overall Market Downturn
Thermax Ltd., a leading player in the engineering industry, has seen a decline in its stock price by -3.38% on November 13, 2024. This underperformance is reflected in the stock's 'Hold' call by MarketsMOJO.
The stock has been on a downward trend for the past two days, with a fall of -4.75% during this period. On the day of the report, the stock touched an intraday low of Rs 4972, showing a decline of -2.91%. While the stock's performance is higher than the 100-day and 200-day moving averages, it is lower than the 5-day, 20-day, and 50-day moving averages.
The engineering - industrial equipments sector, to which Thermax Ltd. belongs, has also seen a decline of -2.65%. This could be attributed to the overall market sentiment and economic conditions.
In comparison to the Sensex, Thermax Ltd.'s performance has been -3.38% in the past day and -3.68% in the past month. This is lower than the Sensex's performance of -0.84% and -4.14% in the same time periods, respectively.
Despite the recent decline in stock price, Thermax Ltd. remains a largecap company in the engineering industry. Investors are advised to hold their positions and monitor the stock's performance in the coming days.
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