Welspun Corp. shares fell -5.04%, outperforming the sector last month

Welspun Corp., a mid-cap company operating in the steel, sponge iron and pig iron industries, saw its stock price decline by -5.04% on October 22, 2024. This decline in performance is reflected in MarketsMOJO’s current Hold call on the stock. .

The stock has been trending lower over the past three days, with a decline of -6.12% over that period. On October 22, the stock hit an intraday low of Rs 680.85, down -4.42%. However, it’s worth noting that the stock’s moving averages are still higher than the 100-day and 200-day moving averages, but lower than the 5-day, 20-day and 50-day moving averages.

In the steel, sponge and cast iron sector, Welspun Corp. fell by -3.15%. This decline is in line with the overall sector performance.

Comparing stock performance with Sensex, Welspun Corp. was the worst performer, down -4.58%, while the Sensex was only down -1.12% during the same period. However, over the past month, Welspun Corp. outperformed the Sensex with a gain of 2.92%, while the Sensex posted a decline of -5.09%.

Overall, Welspun Corp. There has been a decline in share prices, but its performance is still better than the sector. Investors may want to hold their positions for now and keep an eye on the stock’s performance in the coming days.