Steel Authority Of India . Sees Decline in Stock Price, 'Sell' Call from MarketsMOJO

Nov 04 2024 11:20 AM IST
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On November 4th, 2024, Steel Authority Of India . experienced a -4.04% decline in its stock price, closing at Rs. 112.65. This underperformance was also seen in the steel sector, with Steel/Sponge Iron/Pig Iron falling by -2.21%. MarketsMojo has given a 'Sell' call for the stock, which has been trading below its moving averages. Despite this, it remains a largecap company in the industry.

Steel Authority Of India ., a leading player in the steel industry, has seen a decline in its stock price on November 4th, 2024. The stock closed at Rs. 112.65, down by -4.04% from the previous day's closing. This underperformance was also reflected in the sector, with Steel/Sponge Iron/Pig Iron falling by -2.21%.

MarketsMOJO, a leading stock analysis firm, has given a 'Sell' call for Steel Authority Of India ., indicating a negative outlook for the stock. The stock has also been trading below its 5 day, 20 day, 50 day, 100 day, and 200 day moving averages, further highlighting the downward trend.

In comparison to the overall market performance, Steel Authority Of India . has underperformed the Sensex by -1.78% on the day and -18.71% in the past month. This could be attributed to various factors such as global economic conditions, industry-specific challenges, and company-specific issues.

Despite the recent decline in stock price, Steel Authority Of India . remains a largecap company in the steel industry. It is important for investors to carefully analyze the company's financials and market trends before making any investment decisions.
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