Why is Mewar Hi-Tech falling/rising?
As of 08-Aug, Mewar Hi-Tech Engineering Ltd's stock price is Rs 67.66, down 0.25%, and has shown a negative trend with significant declines over the past month and year. The stock is close to its 52-week low and has underperformed compared to the benchmark Sensex, indicating a bearish outlook with no positive catalysts for recovery.
As of 08-Aug, Mewar Hi-Tech Engineering Ltd's stock price is currently at Rs 67.66, reflecting a decrease of Rs 0.17 or 0.25%. The stock has shown a negative trend recently, with a 1-week return of -0.50% and a 1-month return of -7.83%. It is also close to its 52-week low, being only 3.86% away from Rs 65.05. The stock has experienced erratic trading, not trading on 3 out of the last 20 days, and there has been a significant drop in investor participation, with delivery volume on 07 Aug falling by 47.37% compared to the 5-day average. Additionally, while the stock's price is higher than the 100-day and 200-day moving averages, it is lower than the 5-day, 20-day, and 50-day moving averages, indicating a bearish short-term trend.In the broader market context, Mewar Hi-Tech's performance has been underwhelming compared to the benchmark Sensex, which has gained 2.20% year-to-date, while Mewar Hi-Tech has declined by 18.17% in the same period. The stock's 1-week performance is also better than the Sensex's decline of 0.92%, but overall, the stock has not kept pace with the market. The lack of positive factors in the data suggests that there are no significant catalysts to drive the stock price upward, contributing to its recent downward movement.
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