Veritas (India) Ltd Faces Heavy Selling Pressure, Down 69.99% Over Past Year Amid Losses
Veritas (India) Ltd is experiencing significant selling pressure, with a notable decline in its stock price over various time frames. The company has faced consecutive losses, underperforming against the Sensex and trading close to its 52-week low, while also lagging behind its sector and key moving averages.
Veritas (India) Ltd is currently facing significant selling pressure, with today's trading session showing only sellers in the market. The stock has recorded a loss of 1.99% today, starkly contrasting with the Sensex, which has gained 0.93%. This marks a continuation of a troubling trend, as Veritas has experienced consecutive days of losses, with a weekly decline of 1.09% compared to the Sensex's 2.09% increase.Over the past month, Veritas has seen a substantial drop of 17.53%, while the Sensex has risen by 3.79%. The stock's performance over the last year is particularly concerning, down 69.99%, against the Sensex's modest gain of 6.41%. Year-to-date, Veritas has lost 65.09%, while the Sensex has increased by 9.05%.
The stock is currently trading close to its 52-week low, just 0.91% away from Rs 299.85. Additionally, it is underperforming its sector by 2.15% and is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. These factors collectively contribute to the ongoing selling pressure observed in Veritas (India) Ltd.
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