The buying and selling prices were at a discount of 1.2% over the Monday closing price of Rs 512.90 on the NSE.
Ramkrishna Forgings shares today ended at Rs 508.90, down by Rs 4 or 0.8%.
Founded in 1981, Ramkrishna Forgings is a metal forming company and is known for supplying forged, machined & fabricated products to diverse sectors like automotive, railways, farm equipment, earth moving, mining & construction, oil & gas, power and general engineering.
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The stock has been a market laggard, plunging 44% over the past 12 months. The stock is currently trading below its 50-day and 200-day simple moving averages (SMAs) of Rs 530.8 and Rs 604.1, respectively, according to Trendlyne data.
Day’s MFI has fallen to 28, according to Trendlyne. MFI is a momentum oscillator that measures buying and selling pressure using both price and volume, and a value below 30 is seen as oversold.
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The company reported consolidated net loss of Rs 9.5 crore in the September-ended quarter versus a net profit of Rs 190 crore in the year-ago period. The total revenue in the quarter under review stood at Rs 913 crore, down 13% versus Rs 1,056 crore reported in the corresponding quarter of the last financial year.
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