Triveni Engineering Faces Significant Volatility Amid Broader Sugar Industry Decline
Triveni Engineering and Industries, a midcap sugar company, has faced notable volatility, opening with a significant loss and continuing a downward trend over the past two days. The stock is currently trading below multiple moving averages, indicating a bearish trend, while its volatility remains high compared to the broader market.
Triveni Engineering and Industries, a midcap player in the sugar industry, has experienced significant volatility today, opening with a notable loss of 17.8%. The stock has been on a downward trend, having fallen consecutively for the last two days, resulting in a total decline of 6.26% during this period. Today, Triveni Engineering touched an intraday low of Rs 305, reflecting a decrease of 19.39%. Despite this downturn, the stock has outperformed its sector by 2.54%, although the broader sugar industry has seen a decline of 5.83%.
In terms of technical indicators, Triveni Engineering is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend. The stock's volatility has been high, with an intraday volatility rate of 10.64%.
Over the past month, Triveni Engineering has recorded a decline of 4.33%, compared to a 1.79% drop in the Sensex. The stock's beta of 1.15 indicates that it tends to move more significantly than the market, reflecting its high beta status.
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