Hemang Resources Hits 52-Week Low, Given 'Strong Sell' Rating by MarketsMOJO

Mar 28 2024 10:05 AM IST
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Hemang Resources, a microcap trading company, has hit a 52-week low on March 28, 2024, with a stock price of Rs.29.65. The company has been given a 'Strong Sell' rating by MarketsMojo and is currently trading below all its moving averages. It has also underperformed the sector and the Sensex, indicating potential challenges in the market.

Hemang Resources, a microcap trading company, has recently hit a 52-week low on March 28, 2024. The stock has been given a 'Strong Sell' rating by MarketsMOJO, indicating a negative outlook for the company's performance.

On March 28, the stock price of Hemang Resources touched a low of Rs.29.65, which is the lowest it has been in the past 52 weeks. The stock has also underperformed the sector by -1.76% on the same day.

In terms of moving averages, Hemang Resources is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This indicates a downward trend in the stock's performance.

When compared to the overall performance of the Sensex, Hemang Resources has shown a negative 1-year performance of -28.49%, while the Sensex has shown a positive performance of 27.75%. This further highlights the underperformance of Hemang Resources in the market.

As a microcap trading company, Hemang Resources may face challenges in the current market conditions. Investors should carefully consider the company's financials and performance before making any investment decisions.
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