Shalimar Paints Hits 52-Week Low, Underperforming in Market with 'Strong Sell' Call

Shalimar Paints, a smallcap company in the paints industry, has recently hit a 52-week low on August 14, 2024. The stock has been underperforming in the market, with a 'Strong Sell' call by MarketsMOJO.

On August 14, the stock touched a new low of Rs. 133.65, with a performance of -1.29% compared to the sector. This marks the fifth consecutive day of losses for Shalimar Paints, with a decline of -9.59% in this period. The stock also saw an intraday high of Rs. 139.35 (2.05%) and an intraday low of Rs. 133.65 (-2.12%).

Shalimar Paints is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a downward trend in the stock's performance.

In the past year, Shalimar Paints has seen a negative return of -12.88%, while the Sensex has shown a positive return of 20.79%. This further highlights the underperformance of the company in the market.

While the reasons for the decline in Shalimar Paints' stock price are not mentioned, investors should keep a close eye on the company's financial performance and market trends before making any investment decisions.