Surana Solar jumps 51% in ten days

Shares of the Surana Solar jumped 51.16% in ten trading sessions from its recent closing low of Rs 43.26 on 18 September 2024.

The stock hit an all-time high of Rs 65.39 today. The counter has zoomed 205.99% from its 52-week low of Rs 21.37 hit on 26 October 2023.

On the BSE, 1.71 lakh shares were traded in the counter so far compared with average daily volumes of 1.50 lakh shares in the past two weeks.

The stock had outperformed the market over the past one month, soaring 80.64% as against Sensex's 0.07% edge lower.

The scrip had outperformed the market in past three months, jumping 66.18% as against 3.14% rise in Sensex.

The counter had also outperformed the market in past one year, surging 172.46 % as against Sensex's 25.93% surge.

On the technical front, the stock's daily RSI (relative strength index) stood at 88.016. 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 above its 50 day, 100-day and 200-day simple moving average (SMA) placed at 41.94, 40.37 and 38.39, respectively. These levels will act as crucial support zones in near term.

Surana Solar is into the business of manufacturing of Solar Photovoltic (SPV) Modules, generation of Wind and Solar Power energy and trading of other solar related products.

The company's consolidated net profit increased 16.7% to Rs 0.24 crore on 72.1% jump in net sales to Rs 6.60 crore in Q1 FY25 over Q1 FY24.