Godrej Industries loses Rs2.9 billion (US$40.9 million) in MCap, steepest heavyweight fall in Commodity chemicals sector
Godrej Industries Ltd. (NSE:GODREJIND), India's 2nd largest Commodity chemicals company by market cap, has dropped Rs8.65 (2.0%) from its previous trading session to close at Rs416.80. Compared with the BSE SENSEX Index which rose 7.6 points (0.02%) in the day, the relative price change was -2.1%. The volume was 0.5 times the average daily trading volume of 337,796 shares. It posted the steepest fall in MCap with the most influence on the Commodity chemicals sector. There were 169,375 shares worth Rs71.1 million (US$1 million) traded today.
Technical indicators complementing today's significant downtrend:
+ The negative 3.61 MACD (Moving Average Convergence Divergence) indicator suggests a bearish signal.
+ In the last one month the stock has hit a new 52-week low thrice and in the last three months twice.
+ The price decreased 0.4% in the last week and tumbled 6.4% in the last month.