Hot Pursuit     31-Aug-23
Suzlon Energy hits lower circuit on profit selling
Suzlon Energy was locked in a lower circuit of 5% at Rs 24.60 on profit booking after recent steep gains.
Shares of the electric utility company jumped 20.47% in the past four sessions to end at Rs 25.89 yesterday from its recent closing low of Rs 21.49 on 24 August 2023.

On the BSE, 641.86 lakh shares were traded in the counter so far compared with average daily volumes of 406.41 lakh shares in the past two weeks.

The stock hit a 52-week high of Rs 27 in today's intraday session. The stock hit a 52-week low of Rs 6.60 on 13 October 2022.

The stock had outperformed the market over the past one month, rising 29.68% compared with 2.57% decline in the Sensex.

The counter had outperformed the market in past three months, advancing 109.54% as against Sensex's 3.48% increase.

The scrip had outperformed the market in past one year, surging 227.56% as against Sensex's 10.18% jump.

On the technical front, the stock's daily RSI (relative strength index) stood at 70.592. 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 below its 50-day, 100-day and 200-day simple moving average (SMA) placed at 18.75, 14.40 and 11.74, 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.

Suzlon Energy's consolidated net profit tumbled 95.85% to Rs 100.90 crore in Q1 FY24 as compared with Rs 2,433.33 crore posted in Q1 FY23. Revenue from operations declined 2.18% year on year (YoY) to Rs 1,347.52 crore in the quarter ended 30 June 2023.

Previous News
  Barometers trade sideways; Media shares rally for 2nd day
 ( Market Commentary - Mid-Session 05-Sep-24   10:32 )
  Suzlon Energy allots 6.64 lakh equity shares under ESOP
 ( Corporate News - 22-Nov-24   17:52 )
  Suzlon Energy to announce Quarterly Result
 ( Corporate News - 24-May-25   11:01 )
  Suzlon wins 204.75 MW wind power project from Jindal Renewables
 ( Corporate News - 04-Mar-25   09:08 )
  Suzlon Energy announces restructuring of subsidiaries in Netherlands
 ( Corporate News - 15-Feb-25   13:47 )
  Suzlon Energy receives Rs 3.97 cr as final call money on partly paid shares
 ( Corporate News - 07-Jul-23   12:09 )
  Suzlon Energy reports consolidated net loss of Rs 10.55 crore in the September 2021 quarter
 ( Results - Announcements 13-Nov-21   08:09 )
  Suzlon Energy gains on selling corporate office for Rs 440 cr
 ( Hot Pursuit - 05-Sep-24   14:32 )
  Suzlon Energy to conduct board meeting
 ( Corporate News - 16-Jul-24   10:59 )
  Suzlon Energy appoints Vivek Srivastava as CEO - WTG Division
 ( Corporate News - 12-Feb-24   18:34 )
  Suzlon Energy Ltd Slips 2.8%, BSE Power index Shed 1.37%
 ( Hot Pursuit - 24-Feb-25   09:30 )
Other Stories
  Rajshree Polypack bags Rs 3-cr supply order
  05-Jul-25   16:04
  Power and Instrumentation secures Rs 3-cr work order from Nyati Engineering & Construction
  05-Jul-25   15:06
  RVNL bags Rs 143 cr LoA from Southern Railway for traction system upgrade in Tamil Nadu
  05-Jul-25   13:27
  Dhanlaxmi Bank gross advances rises 17% YoY in Q1 FY26
  05-Jul-25   12:45
  Texmaco Rail secures Rs 36-cr wagon order from TCI
  05-Jul-25   12:12
  Hazoor Multi Projects bags Rs 913-cr solar order from Apollo Green Energy
  05-Jul-25   11:27
  BEML secures $6.23 million export orders
  05-Jul-25   11:04
  Shakti Pumps raises Rs 292.6 crore via QIP; PineBridge, LIC MF among top investors
  05-Jul-25   09:52
  Bank of Maharashtra’s total deposits climb 14% YoY to Rs 3.05 lakh crore in Q1
  04-Jul-25   17:35
  GPT Infraprojects bags supply contract from Bangladesh-based Standard Engineers
  04-Jul-25   16:01
Back Top