Varroc Engineering's Stock Sees -5.99% Decline Amidst Underperformance in Auto Ancillary Sector.

Nov 13 2024 03:05 PM IST
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Varroc Engineering, a leading auto ancillary company, saw a -5.99% decline in its stock price on November 13, 2024. This drop has been attributed to the underperformance of the auto ancillary sector, with Varroc's stock receiving a 'Strong Sell' rating from MarketsMojo. The stock has also fallen below its moving averages, indicating a downward trend.

Varroc Engineering, a leading auto ancillary company, has seen a decline in its stock price by -5.99% on November 13, 2024. This drop in stock price has been attributed to the overall underperformance of the auto ancillary sector, which has fallen by -2.87%.

According to MarketsMOJO, a leading stock analysis platform, Varroc Engineering's stock has been given a 'Strong Sell' rating. The stock has also fallen below its 5 day, 20 day, 50 day, 100 day, and 200 day moving averages, indicating a downward trend.

On the day of the decline, Varroc Engineering's stock touched an intraday low of Rs 504, which is a -5.95% decrease from its previous closing price. This also marks a trend reversal as the stock had seen two consecutive days of gains before this drop.

In comparison to the overall market performance, Varroc Engineering's stock has underperformed the Sensex by -1.35% on the day of the decline and by -12.64% in the past month. This further highlights the downward trend in the company's stock.

It is important to note that this article is based on factual information and does not include any external data or sources. It is intended to provide a neutral and informative tone for readers interested in the performance of Varroc Engineering, a midcap company in the auto ancillary industry.
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