Recent Price Movement and Market Context
GRP Ltd’s stock has underperformed both its sector and the broader market in recent sessions. On 20-Jan, the stock fell by ₹88.1, or 4.9%, closing near its intraday low of ₹1,675, which represented a 6.85% drop from the previous close. This decline was sharper than the Rubber Products sector’s fall of 3.89% on the same day, signalling sector-wide weakness compounded by company-specific issues. The weighted average price for the day was closer to the low, indicating selling pressure throughout the session.
The stock has now traded below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, a technical indication of sustained bearish momentum. Additionally, delivery volumes have dropped by 18...
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