Why is Mangalam Alloys falling/rising?
As of 24-Oct, Mangalam Alloys Ltd is priced at 47.00, down 3.59%, and has underperformed its sector today. Despite a year-to-date increase of 16.05%, recent declines indicate a divergence from the broader market trend.
As of 24-Oct, Mangalam Alloys Ltd is currently priced at 47.00, reflecting a decrease of 1.75, or 3.59%. The stock has underperformed its sector by 3.77% today and 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 5.43%, and over the past month, it has dropped 19.10%. However, it has shown a year-to-date increase of 16.05% and a one-year increase of 21.29%. Notably, there has been a rise in investor participation, with delivery volume increasing by 73.08% against the 5-day average, indicating some interest despite the recent price decline. There are no positive or negative factors available to further explain the stock's recent movement.In the broader market context, the Sensex has gained 0.33% over the past week and 2.95% over the past month, contrasting with Mangalam Alloys' significant declines during the same periods. While the stock has performed well year-to-date and over the past year compared to the benchmark, its recent performance suggests a divergence from the overall market trend, which may be contributing to the downward pressure on its price.
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