Suzlon Energy shares slide 11% in 4 days. Should you buy, sell or hold?
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Shares of Suzlon Energy extended their losing streak on Monday, falling as much as 5.7% to Rs 60.06 on the BSE and marking a four-day decline of 10.6%. The slide comes in the wake of the company's first-quarter results that fell short of expectations on profit after tax, coupled with news of the impending exit of the company’s group chief financial officer. The stock is now trading below all eight of its key simple moving averages, spanning 5-day through 200-day charts, underscoring bearish sentiment across short-term and long-term horizons. The Relative Strength Index stands at 35.4, close to oversold territory, while the Moving Average Convergence Divergence at -0.9 remains below both centre and signal lines, reinforcing the weakness. Q1 results weigh on sentiment Suzlon’s June-quarter consolidated net profit rose 7% year-on-year to Rs 324 crore, but missed estimates due to a deferred tax charge of Rs 134 crore. Revenue surged 55% t...