Balu Forge Industries Ltd Hits Intraday Low Amid Price Pressure
Intraday Performance and Price Movement
On the trading day, Balu Forge Industries Ltd’s share price fell sharply, registering a day change of -8.55%. The stock reached an intraday low of Rs 513.6, marking a steep decline of -11.99% from its previous close. This drop was notably more severe than the sector’s performance, with the stock underperforming the Castings & Forgings sector by -10.01% on the day.
The stock’s downward momentum is part of a continuing trend, having declined for six consecutive trading sessions. Over this period, Balu Forge has lost -13.68% in returns, signalling sustained selling pressure. The current price is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages,…
