Why is Mahalaxmi Seam. falling/rising?
As of 14-Nov, Mahalaxmi Seamless Ltd's stock price is declining at 8.32, down 3.03%, and has fallen 7.86% over the last two days. Despite increased delivery volume, the stock is underperforming against the market, trading below all key moving averages, with a one-month return of -9.07% and a year-to-date decline of 39.00%.
As of 14-Nov, Mahalaxmi Seamless Ltd is experiencing a decline in its stock price, currently at 8.32, reflecting a decrease of 0.26 or 3.03%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 7.86% during this period. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Despite a rise in delivery volume by 74.45% on 13 November, which suggests increased investor participation, the overall performance remains negative, with a 1-month return of -9.07% and a year-to-date decline of 39.00%.In the broader market context, while the Sensex has shown a positive return of 1.62% over the past week, Mahalaxmi Seamless Ltd's performance has lagged behind, with a weekly return of +2.09%. This underperformance highlights the stock's struggle in comparison to the benchmark index. The stock's liquidity appears adequate for trading, but the significant drop in its price relative to the benchmark and its recent consecutive falls suggest underlying challenges that investors are currently facing.
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