Why is Patels Airtemp falling/rising?
As of 18-Nov, Patels Airtemp (India) Ltd's stock price is Rs. 231.40, down 2.79%, marking a new 52-week low and a total decline of 5.63% over the past four days. The stock has significantly underperformed the market, with a year-to-date drop of 63.15% compared to the Sensex's 8.36% increase.
As of 18-Nov, Patels Airtemp (India) Ltd is experiencing a decline in its stock price, currently at Rs. 231.40, which reflects a decrease of Rs. 6.65 or 2.79%. The stock has hit a new 52-week low today and has been on a downward trend, losing value for the past four consecutive days with a total decline of 5.63% during this period. Additionally, the stock has underperformed its sector by 1.85% today. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a sustained bearish trend. Furthermore, there has been a significant drop in investor participation, with delivery volume falling by 67.29% compared to the 5-day average, suggesting reduced interest from investors.In the broader market context, the stock's performance over the past week shows a decline of 5.34%, while the benchmark Sensex has increased by 0.96%, highlighting a significant underperformance relative to the market. Over the past month, Patels Airtemp has decreased by 29.29%, contrasting sharply with the Sensex's modest gain of 0.86%. Year-to-date, the stock has plummeted by 63.15%, while the Sensex has risen by 8.36%. This stark difference in performance indicates that the stock is not only struggling in the short term but also facing long-term challenges compared to the overall market.
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