Why is Patspin India falling/rising?
As of 24-Sep, Patspin India Ltd's stock price is at 10.06, down 0.01 (-0.1%). The stock has shown a negative trend with a significant decline over the past month and year-to-date, facing challenges such as a negative book value and high pledged promoter shares, indicating risky valuations.
As of 24-Sep, Patspin India Ltd's stock price is currently at 10.06, reflecting a decrease of 0.01 (-0.1%). The stock has recently shown a trend reversal, falling after three consecutive days of gains. Despite outperforming its sector by 0.33% today, the stock's performance over the past week has been negative, with a decline of 0.89%. Over the last month, it has dropped by 8.30%, and year-to-date, it has seen a significant decrease of 22.02%. The company is facing challenges, including a negative book value and weak long-term fundamentals, with net sales declining at an annual rate of 31.62% and a debt-to-equity ratio averaging 0 times. Additionally, 36.26% of promoter shares are pledged, which adds downward pressure in a falling market.In the broader market context, the stock's short-term performance has been relatively better than the benchmark, as it outperformed the Sensex by 0.33% today, while the Sensex itself has declined by 1.18% over the past week. However, the stock has consistently underperformed against the benchmark over the last three years, generating a return of -26.03% compared to the Sensex's -3.77% in the same period. This consistent underperformance, coupled with high debt and negative EBITDA, indicates that the stock is trading at risky valuations, contributing to its downward price movement.
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