Welspun Corp's Stock Price Sees Dip, MarketsMOJO Calls for 'Hold' Recommendation

Welspun Corp ., a leading player in the steel, sponge iron, and pig iron industry, has seen a dip in its stock price by -3.57% on November 8th, 2024. This has led to a 'Hold' call by MarketsMOJO, a leading financial analysis platform.

The stock is currently trading at a price that is 4.54% away from its 52-week high of Rs 805.8. Today, it underperformed the sector by -2.13%. This is a reversal from its previous trend of three consecutive days of gains.

The stock also touched an intraday low of Rs 769.05, a decrease of -3.63%. However, it is still trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.

In comparison to the overall market performance, Welspun Corp Ltd. has seen a -2.95% decrease in its stock price, while the Sensex has only seen a -0.13% decrease. However, over the past month, the stock has outperformed the Sensex with a 11.30% increase, while the Sensex has seen a -2.69% decrease.

Despite the recent dip in stock price, Welspun Corp . remains a strong player in the steel, sponge iron, and pig iron industry. Investors are advised to hold their positions and keep an eye on the stock's performance in the coming days.