2024-08-23 06:44:26
New Delhi: There is a perception about retail investors that they buy when the valuation is at its peak and sell when the price falls. But this perception changed completely in the case of Suzlon Energy in the June quarter. During this period, small investors made profits while big investors like FIIs and mutual funds bought. Retail investors’ stake in the company was 25.93% in the March quarter, which decreased to 23.16% in the June quarter. On the other hand, mutual funds increased their stake from 1.86% to 3.82% during this period. FIIs also increased their stake in the company to 21.53% in the June quarter, which was 19.57% in the March quarter. The stock of Pune-based company Suzlon Energy has given a return of about 90% since April and more than 300% in the last one year. This stock has gained more than 1,000% in the last two years. Amar Dev Singh, Senior Vice-President, Equity, Commodity and Currency at Angel One, says that Suzlon’s price has risen sharply this year and investors should consider booking partial profits. Geojit Financial Services initiated coverage of the company in July. On Wednesday, the company’s stock was trading at Rs 78.85, down 0.68%.
Is recession coming in America? Warren Buffett is sitting with the most cash in 24 years
what is brokerage
Data from brokerage firm Nuvama shows that a dozen smallcap stocks witnessed block deals worth Rs 1,720 crore last week, of which Suzlon Energy’s share was Rs 207 crore. Apart from this, Suzlon’s board recently approved the acquisition of 76% stake in Renome Energy Services. The deal was done for around Rs 660 crore. Suzlon’s RSI is currently 70.2, which shows that it is in overbought territory. It is trading above the 10-day, 20-day, 30-day, 50-day, 100-day, 150-day and 200-day moving averages.