Visaka Industries' Stock Drops -9.81%, Underperforms Sector Amidst High Volatility

Feb 13 2024 09:35 AM IST
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Visaka Industries, a smallcap construction material company, experienced a -9.81% drop in stock price today, underperforming the sector by -8.77%. This marks the second consecutive day of losses, with a total decline of -18.68% in the past two days. Despite this, the stock is still performing well in the long term and has outperformed the market in the past month. MarketsMojo has given a 'Hold' call for the stock.

Visaka Industries, a smallcap company in the construction material industry, saw a significant drop in its stock price today. According to MarketsMOJO, the stock opened with a loss of -9.81% and underperformed the sector by -8.77%. This marks the second consecutive day of losses for the company, with a total decline of -18.68% in the past two days.

The stock also opened with a gap down of -9.81% and touched an intraday low of Rs 140.8 (-9.97%). It has been trading in a narrow range of Rs 0.25 and has shown high volatility with an intraday volatility of 55.09% (calculated from weighted average price).

Despite these recent losses, Visaka Industries' stock is still performing well in the long term. It is currently higher than its 20-day, 50-day, 100-day, and 200-day moving averages, although it is lower than its 5-day moving average.

In comparison to the overall market performance, Visaka Industries' stock has underperformed today with a -9.97% decline, while the Sensex only saw a -0.21% decrease. However, in the past month, the company's stock has outperformed the Sensex with a 34.01% increase, despite the Sensex's -2.27% decline.

Based on these factors, MarketsMOJO has given a 'Hold' call for Visaka Industries' stock. Investors should keep an eye on the company's performance in the coming days to make informed decisions about their investments.
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