Nahar Spinning Mills Hits 52-Week Low Amid Broader Textile Sector Decline

Feb 14 2025 01:05 PM IST
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Nahar Spinning Mills has reached a new 52-week low, continuing a downward trend with a 5.18% decline over the past two days. The stock is trading below all major moving averages and has dropped 34.54% over the past year, amid broader challenges in the textile sector.
Nahar Spinning Mills, a microcap player in the textile industry, has experienced significant activity today, reaching a new 52-week low of Rs. 204. This decline marks a continuation of a downward trend, with the stock falling for the past two days and recording a total drop of 5.18% during this period. Intraday trading saw the stock hit a low of Rs. 204, reflecting a decrease of 3.11%.

In terms of performance metrics, Nahar Spinning Mills is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a persistent bearish trend. Over the past year, the stock has faced a notable decline of 34.54%, contrasting sharply with the Sensex, which has gained 5.05% in the same timeframe.

The broader textile sector has also been under pressure, experiencing a decline of 3.44%. These developments highlight the challenges faced by Nahar Spinning Mills amidst a tough market environment.
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