Manaksia Hits New 52-Week Low Amid Ongoing Bearish Trend

Dec 30 2024 10:05 AM IST
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Manaksia has recently undergone a revision in its score, reflecting ongoing challenges in the aluminium sector. The stock has been added to MarketsMojo's list, indicating heightened scrutiny amid its significant decline and underperformance compared to the broader market. Investors should remain cautious as the company navigates a bearish trend.
Manaksia, a microcap player in the Aluminium and Aluminium Products industry, has recently reached a new 52-week low, with its stock price hitting Rs. 81 on December 30, 2024. This decline marks a significant downturn, as the company has experienced a 36.08% drop in its stock value over the past year, contrasting sharply with the Sensex, which has gained 8.76% during the same period.

Today's trading session saw Manaksia underperforming its sector by 0.96%, following a brief two-day period of gains. The stock recorded an intraday low of Rs. 81, reflecting a decrease of 4.71% for the day. Additionally, the company's stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent downward trend.

As the market continues to evolve, Manaksia's performance metrics highlight the challenges faced by the company within the competitive landscape of the aluminium sector.
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Our weekly and monthly stock recommendations are here
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