Patel Engineering's Stock Price Soars 7.95% and Outperforms Sector on May 21, 2024

Patel Engineering, a midcap company in the capital goods industry, saw a significant increase in its stock price on May 21, 2024. The stock gained 7.95% and closed at Rs. 64.85. MarketsMOJO has given a 'Hold' call for the stock.

In terms of performance, Patel Engineering outperformed the sector by 8.09% on the same day. The stock has been on a consecutive gain for the last 4 days and has seen a rise of 13.56% during this period. It also opened with a gap up of 12.14% today and reached an intraday high of Rs. 65.95, showing high volatility with an intraday range of 151.43%.

In terms of moving averages, Patel Engineering is currently trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This indicates a positive trend for the stock.

In comparison to the Sensex, Patel Engineering's 1-day performance was 7.97% while the Sensex saw a decline of 0.17%. In the last month, Patel Engineering's performance was 7.20% while the Sensex saw a growth of 1.08%.

Overall, Patel Engineering has shown a strong performance in the capital goods industry and has been gaining momentum in the stock market. Investors may want to keep an eye on this midcap company as it continues to show positive growth.