Shares of Suzlon Energy increased for the fourth straight day, rising 4.95% intraday to Rs 28.39 on the BSE. Despite the gloomy market mood today, shares of Suzlon Energy Ltd. rose to a new 52-week high. In late morning trades, the renewable energy stock increased 4.95% to reach a new 52-week high of Rs 28.39. The last four trading sessions have seen an increase in Suzlon Energy’s stock price. It surpassed the previous 52-week high of Rs 27, which was attained on August 31, 2023. On October 13, 2022, the stock dropped to a 52-week low of Rs 6.60.
Suzlon Energy’s market capitalization increased to Rs 38,304 billion. The firm’s shares were traded for a total of 395.47 lakh times their BSE value, or a high turnover of Rs 110.31 crore. A beta of 1.8 indicates extremely high volatility over the course of a year for Suzlon Energy stock.
Technically speaking, the stock’s relative strength index (RSI) is 68.9, indicating that neither the overbought nor the oversold territory is where it is currently trading. The 5-day, 10-day, 20-day, 50-day, 100-day, and 200-day moving averages are trading below the price of Suzlon Energy shares.
Here are some comments made by technical experts regarding the stock of renewable energy.
“Suzlon Energy shares seem optimistic on the daily charts,” according to Abhijeet of Tips2trades, “and closing above the resistance of Rs 27 might lead to a target of Rs 30.5 in the near term. Strong support will start at 25 rupees.
Suzlon Energy Ltd. has seen a phenomenal run-up starting at Rs 7 and continuing to the present, according to Aditya Gaggar, director of Progressive Shares. In the form of a Rounding Bottom formation, the stock provided a significant breakout in the higher timeframe in August. The indicators are indicating a strong momentum and a pattern breakthrough with a target of Rs 39.35. The stock can be purchased at the present market price or when it drops below 24 rupees.
Offering renewable energy options is Suzlon Energy. Production of wind turbines is done by the company. It provides a variety of solar energy solutions, including solar irradiance evaluation, land acquisition and approvals, infrastructure and power evacuation, supply chain, installation and commissioning, and life cycle asset management.
