Magadh Sugar & Energy Ltd's Stock Reaches All-Time High, Outperforms Sector and Sensex

Sep 27 2024 09:30 AM IST
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Magadh Sugar & Energy Ltd, a smallcap company in the sugar industry, has seen a surge in its stock price, reaching an all-time high of Rs 993.25 on September 27, 2024. The stock has outperformed the sector by 2.37% and has shown a 39.43% increase in the past year, showcasing its strong growth and potential in the industry.

Magadh Sugar & Energy Ltd, a smallcap company in the sugar industry, has recently seen a surge in its stock price. On September 27, 2024, the company's stock reached an all-time high, with a close of Rs 993.25. This has caught the attention of investors and market analysts, with MarketsMOJO giving a 'Hold' call for the stock.

The stock is currently trading at 3.89% below its 52-week high, indicating a strong performance in the past year. In fact, Magadh Sugar & Energy has outperformed the sector by 2.37% today, with the stock opening at a gain of 3.41%. The intraday high of Rs 968.4 also shows a significant increase of 5.44%.

However, it is important to note that the stock has been highly volatile today, with an intraday volatility of 34.16%. This can be attributed to the weighted average price of the stock. Despite this, Magadh Sugar & Energy is still trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.

In terms of performance, Magadh Sugar & Energy has shown a 39.43% increase in the past year, outperforming the Sensex's performance of 29.89%. This showcases the company's strong growth and potential in the sugar industry.

Overall, Magadh Sugar & Energy's recent surge in stock price and consistent outperformance in the market make it a company to watch out for in the smallcap sugar industry.
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