Swan Energy spurts 18% in five days

5 Dec 2022 , 03:06 PM

Shares of Swan Energy have jumped 17.83% in five trading sessions. The stock had outperformed the market over the past one month, soaring 28.13% compared with 3.12% rise in the Sensex. The scrip underperformed the market in past three months, climbing 25.2% as against Sensexs 6.09% rise. The scrip had also outperformed the market in past one year, spurting 117.5% as against Sensexs 8.94% rise. On the technical front, the stocks daily RSI (relative strength index) stood at 70.97. 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 20-day, 50-day and 100-day simple moving average (SMA) placed at 223.73, 217.14 and 223.64, respectively. Swan Energy has three verticals of business, such as textiles, real estate and energy. On a consolidated basis, Swan Energy reported net loss of Rs 31.96 crore in Q2 September 2022 as against net loss of Rs 25.57 crore in Q2 September 2021. Net sales rose 141.33% YoY to Rs 143.47 crore in Q2 September 2022. Powered by Capital Market – Live News