Why is Manglam Infra falling/rising?
As of 23-Sep, Manglam Infra & Engineering Ltd is priced at 24.30, up 1.67%, but has declined 25.46% over the past month and 44.07% year-to-date. Despite today's short-term gain, the stock is underperforming long-term and faces declining investor interest.
As of 23-Sep, Manglam Infra & Engineering Ltd is currently priced at 24.30, reflecting an increase of 0.4 or 1.67%. Despite this uptick, the stock has shown a significant decline over the past month, with a decrease of 25.46%, and a year-to-date drop of 44.07%. Today's performance indicates that the stock has outperformed its sector by 2.33%, but it is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. Additionally, there has been a notable decline in investor participation, with delivery volume falling by 68.75% compared to the 5-day average, which suggests waning interest among investors.In the broader market context, the stock's recent performance contrasts sharply with the benchmark Sensex, which has increased by 1.20% over the past month. While Manglam Infra has seen a short-term rise today, its longer-term performance remains concerning, particularly given its substantial declines over the past year and year-to-date. The broader market has shown resilience, as evidenced by the Sensex's positive returns, which further highlights the challenges Manglam Infra faces in regaining investor confidence amidst its ongoing struggles.
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