Suzlon Energy, a leading player in India’s renewable energy sector, has been making headlines recently due to significant stock market activity. Here’s a quick breakdown of what’s happening with Suzlon shares and what it means for investors.
1. Share Price Performance:
On October 8th, 2024, Suzlon’s share price saw a 4.16% increase, ending the day at ₹73.88. This gain follows an opening price of ₹68.10, and the stock reached a high of ₹74.20 during the day. Despite this short-term rise, the stock has been under pressure in recent weeks, with a decline of around 12% over the last five sessions.
2. Price Band Revision:
One of the most critical updates for Suzlon is the upward revision of its price band from 5% to 10%. The price band controls how much the stock can move up or down within a single trading day. The revision means that Suzlon shares can now move up to 10% in either direction, offering more volatility in the stock. The price band was adjusted after the stock was removed from the Additional Surveillance Measure (ASM) framework last month, a regulatory mechanism designed to limit volatility and protect investors.
3. Market Sentiment:
Suzlon has had a volatile few weeks, and the market seems to be reacting to multiple factors, including the company receiving warnings from regulatory authorities over SEBI’s disclosure requirements. This has likely contributed to the downward pressure, despite the broader optimism in the renewable energy sector.
4. Long-Term Potential:
Even with short-term volatility, Suzlon’s fundamentals and long-term potential in the renewable energy market, especially wind power, are solid. The stock has seen a 52-week high of ₹86.04 and a low of ₹26.30, showing its capability to bounce back from lows.
Suzlon Stock Overview (October 8, 2024)
| Category | Details |
|---|---|
| Current Price | ₹73.88 |
| Today’s Gain | ₹2.95 (4.16%) |
| Opening Price | ₹68.10 |
| Day’s High | ₹74.20 |
| Day’s Low | ₹66.10 |
| Market Cap | ₹1 Lakh Crore |
| P/E Ratio | 115.90 |
| Dividend Yield | – |
| 52-Week High | ₹86.04 |
| 52-Week Low | ₹26.30 |
| Price Band | Revised to 10% |
| Volatility Control | Removed from ASM framework |
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