Why is Gita Renewable falling/rising?
As of 04-Sep, Gita Renewable Energy Ltd's stock price is Rs 111.90, down 2.7%, with a year-to-date decline of 25.65%. The stock is underperforming compared to the Sensex and shows a bearish trend, indicated by its position below key moving averages and decreased trading volume.
As of 04-Sep, Gita Renewable Energy Ltd is experiencing a decline in its stock price, currently at Rs 111.90, which reflects a decrease of Rs 3.1 or 2.7%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 3.53% during this period. Additionally, the stock's performance over the past month shows a decrease of 4.97%, while year-to-date it has dropped significantly by 25.65%. The stock's trading volume has also decreased, with a delivery volume on 03 Sep that was 49.49% lower than the 5-day average, indicating falling investor participation. There is no information available regarding positive or negative factors that could influence the stock's recent movement.In the broader market context, the stock's short-term performance has been weaker compared to the benchmark, with the Sensex gaining 0.80% over the past week while Gita Renewable only increased by 0.36%. This underperformance is further highlighted by the stock's year-to-date decline of 25.65% compared to the Sensex's modest gain of 3.30%. The stock's moving averages indicate that it is currently lower than the 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend in the longer term. Overall, the combination of declining investor interest and weaker performance relative to the benchmark contributes to the stock's downward movement.
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