Stock specific action is being seen in the volatile market. Finally, the trend of decline in Suzlon Energy Ltd, the favorite share of retail investors, has stopped and the bumper rally has returned. In such a situation, let us understand how the stock may move in future?
The ongoing decline in the stock stopped in Thursday’s session. From yesterday’s closing price of Rs 54.03, the stock hit an upper circuit of 5 percent and the stock price reached Rs 56.73. This means that trading in the shares started without any major movement. After this, the pace gradually increased and then the upper circuit was started.
Along with this, huge volume has been seen in the stock. About 50,375,662 shares were traded. The share was locked at the upper circuit of Rs 56.73. Let us tell you that when there are only buyers of the shares, then trading in the shares is stopped after a fixed time.
Aditya Aggarwal, co-founder of Invest4edu and Research and Investments, says that do not be in a hurry to buy or average in shares. It may be a good idea to buy when the stock stabilizes a bit and then shows a bounce. Experts say that we cannot see a target of Rs 100 soon, our target will be around Rs 80-85 per share.
In terms of income, the renewable energy solutions company has registered a growth of 95.72 percent in its conso net profit in the second quarter of the financial year 2024-25 (Q2 FY25). As of September 2024, promoters held 13.25 per cent stake in the company, down slightly from 13.27 per cent in the previous quarter.
Disclaimer: This information is for informational purposes only and should not be construed as investment advice. It is recommended to consult a financial advisor before making investment decisions.