Suzlon Energy shares extend gains, jump 6% today
Suzlon Energy share price: The stock has declined 10.59 per cent in the previous five sessions. On a year-to-date (YTD) basis, it has crawled 2.82 per cent. On the technical front, the stock has support at Rs 9, an analyst said.
- Dec 27, 2022,
- Updated Dec 27, 2022 10:52 AM IST
Shares of Suzlon Energy extended their gains for the second straight session in Tuesday's trade amid heavy volumes. The stock surged 6.35 per cent to hit a day high of Rs 10.39 over its previous close of Rs 9.77.
A total of 1.49 crore shares changed hands on BSE with a turnover of Rs 15.10 crore. The company's market capitalisation or m-cap stood at Rs 10,244.33 crore.
At today's high level of Rs 10.39, Suzlon Energy has lost 14.77 per cent compared to its one-year high of Rs 12.19, hit earlier this month. That said, the stock has ascended by 91.34 per cent from its 52-week low of Rs 5.43, hit in July this year.
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The stock has declined 10.59 per cent in the previous five sessions. On a year-to-date (YTD) basis, it has crawled 2.82 per cent.
On the technical front, the stock has support at Rs 9, an analyst said.
"Suzlon has massive resistance at 12.3. A daily close above this level could lead to higher targets of 13.6-15 in the coming weeks. Strong support will be at 9," said A R Ramachandran from Tips2trades.
The stock traded at a 14-day relative strength index (RSI) value of 53.92. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-equity (P/E) ratio of 6.69.
Meanwhile, Indian equity benchmarks traded almost flat in late morning deals as losses in financial and pharma stocks countered gains in metal and state-owned lenders.
Also Read | Time Technoplast shares soar 19% after bagging repeat order from this company
Shares of Suzlon Energy extended their gains for the second straight session in Tuesday's trade amid heavy volumes. The stock surged 6.35 per cent to hit a day high of Rs 10.39 over its previous close of Rs 9.77.
A total of 1.49 crore shares changed hands on BSE with a turnover of Rs 15.10 crore. The company's market capitalisation or m-cap stood at Rs 10,244.33 crore.
At today's high level of Rs 10.39, Suzlon Energy has lost 14.77 per cent compared to its one-year high of Rs 12.19, hit earlier this month. That said, the stock has ascended by 91.34 per cent from its 52-week low of Rs 5.43, hit in July this year.
Also Read | ITC shares see biggest yearly gains since 2005! Can they hit Rs 400 level in 2023?
The stock has declined 10.59 per cent in the previous five sessions. On a year-to-date (YTD) basis, it has crawled 2.82 per cent.
On the technical front, the stock has support at Rs 9, an analyst said.
"Suzlon has massive resistance at 12.3. A daily close above this level could lead to higher targets of 13.6-15 in the coming weeks. Strong support will be at 9," said A R Ramachandran from Tips2trades.
The stock traded at a 14-day relative strength index (RSI) value of 53.92. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-equity (P/E) ratio of 6.69.
Meanwhile, Indian equity benchmarks traded almost flat in late morning deals as losses in financial and pharma stocks countered gains in metal and state-owned lenders.
Also Read | Time Technoplast shares soar 19% after bagging repeat order from this company