Recent Price Movement and Market Context
Haryana Leather’s share price has been under pressure over multiple time frames. In the past week, the stock declined by 5.44%, contrasting sharply with the Sensex’s modest gain of 0.13%. Over the last month, the stock’s fall has been even more pronounced at 19.50%, while the Sensex advanced by 0.77%. Year-to-date, the stock has lost over 30%, whereas the benchmark index has gained 9.05%. This trend extends to the one-year horizon, where Haryana Leather’s shares have dropped 34.07%, compared to a 3.75% rise in the Sensex. Despite these recent setbacks, the stock has outperformed the Sensex over the longer term, delivering a 41.34% gain over three years and doubling in value over five years, surpassing the benchmark’s respective returns.
Intraday Performance and Technical Indicators
On 15-Dec, the stock experienced a clear trend reversal after two consecutive days of gains, hitting an intraday low of ₹59.20, representing an 8.75% decline from previous levels. The weighted average price indicates that a larger volume of shares traded closer to the day’s low, signalling selling pressure. Furthermore, Haryana Leather is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This technical positioning suggests a bearish momentum and a lack of short-term buying interest.
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Declining Investor Participation and Liquidity
Investor engagement appears to be waning, as evidenced by a sharp drop in delivery volume. On 12 Dec, the delivery volume was recorded at 46, which represents a 96.49% decrease compared to the five-day average delivery volume. This decline in investor participation may be contributing to the stock’s inability to sustain recent gains. Despite this, the stock remains sufficiently liquid for trading, with a trade size capacity based on 2% of the five-day average traded value, although the exact trade size value is not specified.
Sector and Market Comparison
Haryana Leather’s performance today notably underperformed its sector by 7.7%, indicating that the stock is facing challenges beyond general market conditions. While the broader market and sector indices have shown resilience, Haryana Leather’s shares have struggled to maintain momentum, reflecting company-specific or sector-related headwinds that have yet to be fully disclosed.
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Outlook and Investor Considerations
Given the current technical weakness, declining investor participation, and underperformance relative to both the Sensex and sector peers, Haryana Leather’s shares face near-term headwinds. The stock’s position below all major moving averages suggests that a sustained recovery may require a catalyst or improvement in fundamentals. Investors should monitor trading volumes and price action closely, as well as any company announcements or sector developments that could influence sentiment.
While the stock has delivered strong returns over the longer term, recent trends highlight the importance of cautious evaluation before initiating or increasing exposure. The divergence between Haryana Leather’s performance and the broader market underscores the need for a thorough analysis of company-specific factors and market conditions.
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