Swan Energy shares jump 11% today after sharing update on board meeting
Swan Energy share price: On technical setup, the counter's 14-day relative strength index (RSI) came at 73.48. 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 1790.79. It has a price-to-book (P/B) value of 5.08.
- Jun 22, 2023,
- Updated Jun 22, 2023 12:27 PM IST
Shares of Swan Energy Ltd rose sharply in Thursday's trade after the company shared an update about its board meeting. The stock jumped 10.76 per cent to hit a day high of Rs 273.20 over its previous close of Rs 246.65. At today's high price, the scrip traded 27.92 per cent lower from its 52-week high of Rs 379, a level seen on January 23, 2023. Although, it has gained 51.53 per cent from its one-year low of Rs 180.30, hit on July 8 last year.
On a year-to-date (YTD) basis, the counter has slipped 15.39 per cent but has gained 32.50 per cent in the past one year.
Swan Energy, in a post-market hours exchange filing yesterday, said: "A meeting of the Board of Directors of the company to consider and evaluate the proposal for raising funds by any permissible mode has been postponed and re-scheduled." The meeting, which was scheduled to take place today, would now be held on June 27, 2023 (Tuesday), the company stated.
Around 3.24 lakh shares changed hands today on BSE, which was way more than the two-week average volume of 9,849 shares. Turnover on the counter came at Rs 8.61 crore, commanding a market capitalisation (m-cap) of Rs 7,043.94 crore. At the time of writing this story, there were 38,023 sell orders against buy order of 29,673 shares.
On technical setup, the counter's 14-day relative strength index (RSI) came at 73.48. 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 1790.79. It has a price-to-book (P/B) value of 5.08.
Swan Energy has a one-year beta of 0.76, indicating low volatility.
Support on the counter could be seen at Rs 250.
AR Ramachandran from Tips2trades said, "Swan Energy stock price has been bullish on the daily charts with next resistance at Rs 272. A daily close above this level could lead to a target of Rs 305 in the near term. Support will be at Rs 250."
The company is a sustainable solutions provider aiming to deliver best-in-class solutions for a more sustainable and prosperous world.
Meanwhile, Indian equity benchmarks traded lower in afternoon deals amid a highly volatile session, dragged by financials, consumer, technology, pharma and energy stocks. The 30-share BSE Sensex pack fell over 200 points after hitting its all-time levels; while the broader NSE Nifty index tested 18,800 levels.
Also read: A Sensex stock's wait to reclaim its 2008 high is getting prolonged. Any guesses?
Shares of Swan Energy Ltd rose sharply in Thursday's trade after the company shared an update about its board meeting. The stock jumped 10.76 per cent to hit a day high of Rs 273.20 over its previous close of Rs 246.65. At today's high price, the scrip traded 27.92 per cent lower from its 52-week high of Rs 379, a level seen on January 23, 2023. Although, it has gained 51.53 per cent from its one-year low of Rs 180.30, hit on July 8 last year.
On a year-to-date (YTD) basis, the counter has slipped 15.39 per cent but has gained 32.50 per cent in the past one year.
Swan Energy, in a post-market hours exchange filing yesterday, said: "A meeting of the Board of Directors of the company to consider and evaluate the proposal for raising funds by any permissible mode has been postponed and re-scheduled." The meeting, which was scheduled to take place today, would now be held on June 27, 2023 (Tuesday), the company stated.
Around 3.24 lakh shares changed hands today on BSE, which was way more than the two-week average volume of 9,849 shares. Turnover on the counter came at Rs 8.61 crore, commanding a market capitalisation (m-cap) of Rs 7,043.94 crore. At the time of writing this story, there were 38,023 sell orders against buy order of 29,673 shares.
On technical setup, the counter's 14-day relative strength index (RSI) came at 73.48. 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 1790.79. It has a price-to-book (P/B) value of 5.08.
Swan Energy has a one-year beta of 0.76, indicating low volatility.
Support on the counter could be seen at Rs 250.
AR Ramachandran from Tips2trades said, "Swan Energy stock price has been bullish on the daily charts with next resistance at Rs 272. A daily close above this level could lead to a target of Rs 305 in the near term. Support will be at Rs 250."
The company is a sustainable solutions provider aiming to deliver best-in-class solutions for a more sustainable and prosperous world.
Meanwhile, Indian equity benchmarks traded lower in afternoon deals amid a highly volatile session, dragged by financials, consumer, technology, pharma and energy stocks. The 30-share BSE Sensex pack fell over 200 points after hitting its all-time levels; while the broader NSE Nifty index tested 18,800 levels.
Also read: A Sensex stock's wait to reclaim its 2008 high is getting prolonged. Any guesses?