Veritas (India) Ltd Faces Intense Selling Pressure Amid Significant Price Declines
Veritas (India) Ltd is experiencing notable selling pressure, with a four-day decline resulting in an 8.16% loss. The stock has underperformed the benchmark Sensex significantly, dropping 13.47% over the past month and 56.70% year-to-date, while trading near its 52-week low and below key moving averages.
Veritas (India) Ltd is currently facing significant selling pressure, with the stock showing only sellers today. The company has experienced a consecutive decline over the past four days, resulting in a total loss of 8.16% during this period. In stark contrast, the benchmark Sensex has shown a modest decline of just 0.49% over the same week.On a daily basis, Veritas (India) Ltd has underperformed the Sensex, with a drop of 2.00% compared to the Sensex's gain of 1.56%. Over the past month, the stock has plummeted by 13.47%, while the Sensex has risen by 1.21%. Year-to-date, Veritas has seen a staggering decline of 56.70%, significantly underperforming the Sensex, which has only decreased by 4.02%.
The stock is currently trading close to its 52-week low, just 1.63% away from Rs 369.25. It opened with a gap down of 2% today, reaching an intraday low of Rs 375.35. Additionally, Veritas is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent downward trend. The trading sector, however, has gained by 2.4%, highlighting the unique challenges faced by Veritas amidst broader market movements.
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