Swadeshi Polytex Faces Sustained Downward Trend Amidst Sector Underperformance

Jan 29 2025 09:35 AM IST
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Swadeshi Polytex, a microcap textile company, has hit a new 52-week low amid significant volatility, underperforming its sector. The stock has seen a continuous decline over the past eight days and has struggled over the past year, trading below multiple moving averages, indicating ongoing challenges.
Swadeshi Polytex, a microcap player in the textile industry, has experienced significant volatility today, reaching a new 52-week low of Rs. 80.34. This decline marks a notable underperformance, as the stock has lagged behind its sector by 1.67%. Over the past eight days, Swadeshi Polytex has faced a consecutive downturn, resulting in a cumulative drop of 13.86%.

Today's trading saw the stock hit an intraday low of Rs. 80.34, reflecting a decrease of 2.43%. The company's performance over the past year has been challenging, with a decline of 19.79%, contrasting sharply with the Sensex, which has gained 5.81% during the same period.

Additionally, Swadeshi Polytex is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a sustained downward trend. Investors and market watchers will be keen to observe how the company navigates these challenges in the coming days.
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