Suzlon Share Price Overview
As of October 10, 2023, at 16:00, Suzlon Energy’s shares are listed at ₹75.51, reflecting a decline of 1.53% from the previous closing price. In comparison, the Sensex is experiencing slight growth, trading at ₹81,611.41, which is up by 0.18%. During the trading session today, the stock hit a high of ₹77.88 and a low of ₹74.64, highlighting the stock’s volatility.
Technical Analysis
From a technical perspective, Suzlon is currently trading above its 5-day, 100-day, and 300-day Simple Moving Averages (SMA), while it remains below the 10-day, 20-day, and 50-day SMAs. This positioning indicates potential support at these longer-term SMAs, while the stock may face resistance at the shorter-term moving averages. The following key values serve as significant support and resistance levels:
- Support Levels: ₹74.13, ₹72.79, ₹70.91
- Resistance Levels: ₹77.35, ₹79.23, ₹80.57
Trading Volume Insights
As of 4 PM today, the trading volume for Suzlon on the NSE and BSE has decreased significantly, registering a drop of 53.92% compared to the previous trading session. Monitoring trading volume is crucial as it can provide insights into market trends; a positive price movement coupled with high volume signals a sustainable uptrend, while a decline in price with high volume may indicate further decreases ahead.
Market Trends and Stock Performance
Overall market sentiment shows mixed results for Suzlon and its peers. While stocks like Voltas, Thermax, and Aia Engineering are facing declines, companies such as Blue Star are witnessing gains. As it stands, both the Nifty and Sensex indices are slightly up by 0.07% and 0.18%, respectively, suggesting a cautiously optimistic environment for investors.
Fundamental Analysis
On a fundamental level, Suzlon exhibits a robust Return on Equity (ROE) of 26.31%. Additionally, the Price-to-Earnings (P/E) ratio for the stock is currently at 120.31, indicating the market’s expectations for future earnings growth.
Forecasted Performance
Experts suggest a 1-year median target price forecast for Suzlon at ₹74.00, indicating a potential upside of about 2.00% from its current price. Furthermore, the company has demonstrated a steady increase in institutional holdings, with 13.27% promoter ownership, 2.12% mutual fund holdings (up from 1.14%), and foreign institutional investor (FII) holdings increased from 18.67% to 20.63% as reported in June filings.
Conclusion
In summary, as Suzlon shares decrease by 1.53% today to trade at ₹75.51, careful analysis of technical indicators and trading volume suggests potential caution for investors. The mixed performance amongst its industry peers and shifting institutional holdings further delineate the company’s standing in the broader market context. Investors and analysts alike will be keen to monitor these developments moving forward in a rapidly changing market landscape.
