Mishra Dhatu Nigam Ltd Shows Strong Short-Term Performance Amid Broader Market Decline

Jan 17 2025 06:35 PM IST
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Mishra Dhatu Nigam Ltd, a midcap player in the steel industry, saw a significant rise on January 17, 2025, outperforming its sector. The stock has shown a consistent upward trend over four days, reaching an intraday high and currently trading above its short-term moving averages.
Mishra Dhatu Nigam Ltd, a midcap player in the steel, sponge iron, and pig iron industry, experienced a notable increase of 5.51% on January 17, 2025, allowing it to outperform its sector by 4.92%. Over the past four days, the stock has shown a consistent upward trend, accumulating a total return of 13.35%.

On this trading day, Mishra Dhatu Nigam reached an intraday high of Rs 343.4, marking a rise of 6.53%. In terms of moving averages, the stock is currently above its 5-day and 20-day moving averages, but remains below the 50-day, 100-day, and 200-day moving averages.

In comparison to the broader market, Mishra Dhatu Nigam's one-day performance stands in contrast to the Sensex, which declined by 0.55%. However, over the past month, the stock has faced a decline of 8.55%, while the Sensex has decreased by 5.04%.
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