Why is Suryaamba Spinni falling/rising?
As of 13-Nov, Suryaamba Spinning Mills Ltd's stock price is Rs. 129.00, down 5.77% and recently hitting a 52-week low. The stock has underperformed its sector and the broader market, with a year-to-date decline of 18.33%, indicating a challenging environment.
As of 13-Nov, Suryaamba Spinning Mills Ltd's stock price is currently at Rs. 129.00, reflecting a decline of Rs. 7.9 or 5.77%. The stock has recently hit a new 52-week low of Rs. 124.7 today, indicating a significant drop of 8.91% at its intraday low. The stock has underperformed its sector by 5.56%, and it is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. Additionally, while the stock has seen a rise in investor participation with a delivery volume increase of 210.57% against the 5-day average, its year-to-date performance shows a decline of 18.33%, contrasting sharply with the Sensex's gain of 8.11%.In the broader market context, the stock's short-term performance over the past week shows a gain of 2.30%, which is better than the Sensex's increase of 1.40%. However, the longer-term returns reveal a concerning trend, with the stock down 1.94% over the past month and 12.54% over the past year, while the Sensex has gained 2.61% and 8.74%, respectively. This disparity highlights the stock's struggles relative to the broader market, contributing to its recent price decline. Overall, the combination of hitting a new low, underperformance against sector benchmarks, and a negative trend reversal after four days of gains suggests a challenging environment for Suryaamba Spinning Mills Ltd.
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