Recent Price Movement and Short-Term Gains
Super Tannery has recorded a modest gain of 0.05 points, or 0.71%, as of the evening trading session on 27 November. This rise is part of a three-day consecutive increase, during which the stock has appreciated by 3.21%. This recent momentum outpaces the sector’s performance, with the stock outperforming its peers by 0.5% today. Such short-term gains suggest renewed investor interest or positive sentiment in the immediate term, despite the broader challenges the company faces.
The stock’s price currently sits above its 5-day moving average, indicating some short-term strength. However, it remains below its 20-day, 50-day, 100-day, and 200-day moving averages, signalling that the longer-term trend remains subdued. This technical positioning reflects a cautious market stance, where recent gains have yet to translate into a sustained recovery.
Trading Activity and Liquidity Considerations
Investor participation appears to be waning, as evidenced by a sharp 49.15% decline in delivery volume on 26 November compared to the five-day average. The delivery volume stood at 11,620 shares, indicating reduced conviction among traders to hold the stock. Despite this, liquidity remains adequate for trading, with the stock’s traded value supporting reasonable transaction sizes. This balance of moderate liquidity and falling participation may contribute to the stock’s limited but steady price appreciation.
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Long-Term Performance Context
Despite the recent uptick, Super Tannery’s longer-term returns paint a more challenging picture. Over the past year, the stock has declined by 42.35%, significantly underperforming the Sensex, which gained 6.84% during the same period. Year-to-date, the stock is down 40.00%, while the Sensex has risen by 9.70%. Even over the last month, the stock has fallen 9.11%, contrasting with the Sensex’s 1.11% gain.
However, the stock’s five-year performance remains a bright spot, with a cumulative gain of 144.98%, outstripping the Sensex’s 94.16% rise. This suggests that while recent years have been difficult, the company has delivered substantial value over a longer horizon. The three-year return of 3.96% still lags the Sensex’s 37.61%, indicating that the stock’s recent struggles have weighed heavily on medium-term performance.
Investor Implications and Market Positioning
The current price action reflects a stock in recovery mode after a prolonged period of underperformance. The recent gains, though modest, may be driven by short-term technical factors or speculative interest rather than fundamental improvements, given the absence of positive or negative news data. The stock’s position relative to moving averages and declining delivery volumes suggests cautious optimism but also highlights the need for sustained buying interest to confirm a turnaround.
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In summary, Super Tannery’s stock is rising modestly on 27 November, buoyed by a short-term rally that has seen it outperform its sector and the broader market in the past week. However, the stock’s longer-term performance remains weak relative to the Sensex, reflecting ongoing challenges. Reduced investor participation tempers enthusiasm, suggesting that while the stock is showing signs of life, it has yet to fully regain investor confidence or break out of its longer-term downtrend.
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