Why is Patels Airtemp falling/rising?
As of 17-Sep, Patels Airtemp (India) Ltd's stock price is Rs 315.55, down 2.23% and nearing its 52-week low. The stock has declined 12.59% over the past week and significantly underperformed compared to the Sensex, which has risen 1.56% during the same period.
As of 17-Sep, Patels Airtemp (India) Ltd is experiencing a decline in its stock price, currently at Rs 315.55, which reflects a decrease of Rs 7.2 or 2.23%. The stock has been underperforming, having fallen consecutively for the last seven days, resulting in a total decline of 12.59% during this period. Additionally, it is trading close to its 52-week low, just 3.61% above Rs 304.15. The stock's performance over the past week shows a significant drop of 9.12%, while it has also underperformed its sector by 2.46%. Furthermore, it is trading below all key moving averages, indicating a bearish trend. Although there has been a notable increase in investor participation, with delivery volume rising by 552.92% against the 5-day average, this has not been sufficient to counteract the downward price movement.In the broader market context, the stock's recent performance contrasts sharply with the benchmark Sensex, which has gained 1.56% over the past week. While Patels Airtemp has shown a slight positive return of 0.30% over the past month, it has significantly lagged behind the Sensex's 2.60% increase during the same period. Year-to-date, the stock has plummeted by 49.75%, while the Sensex has risen by 5.83%. This stark difference in performance highlights the challenges faced by Patels Airtemp in the current market environment, contributing to its ongoing decline.
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