The share price closed 4.94 per cent lower, a drop that stood out given the Sensex’s modest decline of only 0.30 per cent. This latest fall followed a weak previous session, bringing the two-day slide to 5.73 per cent. The day change of -3.29 per cent showed how persistent the selling had become, and with no buy orders to counterbalance the pressure, the decline accelerated easily. Although the broader Aluminium & Aluminium Products sector also slipped by 2.25 per cent today, Golkonda Aluminium’s sharper fall suggested that investors were reacting more strongly to developments specific to the company.
Technical signals provided little reassurance. At present, the stock is a bit higher than its five-day moving average, but a consistent low of 20-day, 50-day, 100-day and 200-day moving averages clearly indicates a long-term bearish trend, which is practically impossible to reverse by short-lived upward spikes.
Performance across different timeframes shows how this pressure has built. Over the past month, the stock has fallen 20.45 per cent, and across three months, the loss stands at 22.29 per cent. In both periods, the Sensex moved in the opposite direction, gaining 1.12 per cent and 4.11 per cent respectively. The year-to-date picture is more severe, with the stock down 43.15 per cent while the benchmark index has risen 9.26 per cent. Over a full year, Golkonda Aluminium has dropped 41.71per cent compared with the Sensex’s increase of 10.65 per cent.
Longer-term numbers reveal the stock’s volatility as well as inconsistency with three-year returns projections appearing bleak at -61.38 per cent, contrasting sharply with the Sensex’s 39.63 per cent rise. Yet over five years, the company has posted a substantial 167.00% gain, and over ten years, the return stands at 230.03 per cent. These long-term gains, however, sit uneasily beside the pronounced declines of the past year and the stock’s inability to regain its key averages.
