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Shares of Swan Energy have surged 20.07% in six sessions.
On a year-to-date (YTD) basis, the stock has surged 11.35% while the benchmark Sensex has added 24.91% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 85.11. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 124.35, 121.66 and 123.28, respectively.
On a consolidated basis, Swan Energy reported net loss of Rs 25.57 crore in Q2 September 2021 as against net loss of Rs 8.94 crore in Q2 September 2020. Net sales declined 32.02% to Rs 59.45 crore in Q2 September 2021 over Q2 September 2020.
Swan Energy is an emerging "green energy" company with a track record in infrastructure projects and textiles.
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