Market Performance and Recent Price Action
Azad Engineering’s stock price surged by ₹85.80, marking a notable intraday high of ₹1,552, which represents a 6.97% gain from the previous close. This rise follows two consecutive days of decline, signalling a trend reversal that has caught the attention of investors. The stock opened with a gap up of 3.42%, indicating strong buying interest from the outset of trading on 03-Feb. Compared to the broader Auto Ancillary sector, which itself gained 3.79% on the day, Azad Engineering outperformed by 2.15%, underscoring its relative strength within the industry.
Despite this positive momentum, the stock remains below its longer-term moving averages, including the 50-day, 100-day, and 200-day averages, though it is trading above the...
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