Shivalik Bimetal Hits 52-Week Low Amid Sustained Market Challenges
Shivalik Bimetal Controls, a small-cap company in the Steel/Sponge Iron/Pig Iron sector, has faced notable volatility, hitting a 52-week low of Rs. 403. The stock has declined significantly over the past month and is trading below key moving averages, indicating ongoing challenges in the market.
Shivalik Bimetal Controls, a small-cap player in the Steel/Sponge Iron/Pig Iron industry, has experienced significant volatility today, with the stock declining by 7.14%. This drop marks a new 52-week low of Rs. 403, reached during intraday trading. The stock has underperformed its sector by 5.16% and has been on a downward trend for the past three days, accumulating a total decline of 10.61% in that period.Opening the day with a gap down of 2.1%, Shivalik Bimetal touched an intraday low of Rs. 403, reflecting a 7.3% decrease at its lowest point. In terms of moving averages, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a sustained bearish trend. Over the past month, Shivalik Bimetal has seen a substantial decline of 22.15%, contrasting sharply with the Sensex, which has only dipped by 3.00%. The performance metrics suggest ongoing challenges for the company in the current market environment.
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