Why is Artemis Medicare falling/rising?
As of 28-Aug, Artemis Medicare Services Ltd is priced at 224.20, having increased slightly after a decline, but it remains below key moving averages and has underperformed the market year-to-date. Despite strong long-term growth in operating profit, challenges like low management efficiency and high pledged shares contribute to its overall negative performance.
As of 28-Aug, Artemis Medicare Services Ltd is currently priced at 224.20, reflecting an increase of 0.65 or 0.29%. The stock has shown a trend reversal by gaining after four consecutive days of decline and has outperformed its sector by 1.08%. However, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has declined by 6.31%, and year-to-date, it has fallen by 28.58%. Despite these declines, the company has demonstrated healthy long-term growth with a 49.66% annual increase in operating profit and positive results over the last six quarters, although it faces challenges such as low management efficiency and a significant percentage of pledged promoter shares.In the broader market context, Artemis Medicare has underperformed the benchmark, with a year-to-date return of -28.58% compared to the Sensex's gain of 2.48%. The stock's performance over the last year has also been disappointing, with a decline of 16.36% against the market's negative return of only 2.08%. This underperformance, coupled with the high percentage of pledged shares, adds downward pressure on the stock price, particularly in a falling market. While the stock has shown some positive indicators, such as rising investor participation and attractive valuations relative to peers, the overall market sentiment and company-specific challenges continue to weigh heavily on its price movement.
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