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Shares of Suzlon Energy have risen 32.21% in third consecutive sessions from its recent closing low of Rs 10.99 on 2 June 2023.
The stock hit a 52-week high of Rs 14.59 in intraday today. The stock hit a 52-week low of Rs 5.43 on 28 July 2022.
The stock outperformed the market over the past one month, rising 68.37% compared with 3.45% increase in the Sensex.
The scrip outperformed the market in past one quarter, climbing 69.15% compared with 4.87% rise in the Sensex.
The scrip outperformed the market in past one year, rising 91.69% compared with 13.44% increase in the Sensex.
On the technical front, the stock's daily RSI (relative strength index) stood at 84.953. 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 above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 8.84, 8.87 and 8.79, 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.
The company reported consolidated net profit of Rs 279.89 crore in Q4 FY23 as against net loss of Rs 204.29 crore posted in Q4 FY22. Revenue from operations declined 30.8% year on year (YoY) to Rs 1,689.91 crore in the quarter ended 31 March 2023.
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