Sundram Fasteners Hits 52-Week Low Amid Broader Sector Challenges

Jan 13 2025 03:05 PM IST
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Sundram Fasteners has faced notable volatility, reaching a new 52-week low and underperforming its sector. The stock has dropped significantly over the past two days and is currently trading below multiple moving averages. Over the past year, the company has seen a substantial decline compared to the Sensex's gains.
Sundram Fasteners has experienced significant volatility today, reaching a new 52-week low with its stock price hitting Rs. 1002. This decline represents a notable downturn for the company, which has underperformed its sector by 1.09%. Over the past two days, the stock has seen a cumulative drop of 5.73%, with an intraday low today reflecting a decrease of 5.61%.

Currently, Sundram Fasteners is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, signaling a bearish trend. The broader fasteners sector has also faced challenges, declining by 4.36%. Over the past year, Sundram Fasteners has recorded a decrease of 20.16%, in stark contrast to the Sensex, which has risen by 5.27% during the same timeframe.
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