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Shares of the electric utility company jumped 20.47% in the past four sessions to end at Rs 25.89 yesterday from its recent closing low of Rs 21.49 on 24 August 2023.
On the BSE, 641.86 lakh shares were traded in the counter so far compared with average daily volumes of 406.41 lakh shares in the past two weeks.
The stock hit a 52-week high of Rs 27 in today's intraday session. The stock hit a 52-week low of Rs 6.60 on 13 October 2022.
The stock had outperformed the market over the past one month, rising 29.68% compared with 2.57% decline in the Sensex.
The counter had outperformed the market in past three months, advancing 109.54% as against Sensex's 3.48% increase.
The scrip had outperformed the market in past one year, surging 227.56% as against Sensex's 10.18% jump.
On the technical front, the stock's daily RSI (relative strength index) stood at 70.592. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
On the daily chart, the stock was trading below its 50-day, 100-day and 200-day simple moving average (SMA) placed at 18.75, 14.40 and 11.74, respectively. These levels will act as crucial support zones in near term.
The Suzlon Group is one of the leading renewable energy solutions provider in the world with presence in 17 countries.
Suzlon Energy's consolidated net profit tumbled 95.85% to Rs 100.90 crore in Q1 FY24 as compared with Rs 2,433.33 crore posted in Q1 FY23. Revenue from operations declined 2.18% year on year (YoY) to Rs 1,347.52 crore in the quarter ended 30 June 2023.
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