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Mint
3 hours ago
- Business
- Mint
Waaree Energies soars over 11% on FTSE index rejig; stock nears ₹3,000-mark
Shares of Waaree Energies surged over 11 percent on Friday, June 20, after reports confirmed the stock's likely inclusion in the upcoming FTSE global index rejig. The counter jumped to an intraday high of ₹ 2,975, as investors rushed to price in passive inflows ahead of the revision's implementation. London-based Financial Times Stock Exchange (FTSE) is set to announce its latest index composition changes on June 20, with the resultant inflows expected to begin from June 23. As per brokerage estimates, Waaree Energies could attract $49 million in passive investments from global funds tracking the index. Other stocks expected to benefit include Vishal Mega Mart with inflows pegged at $115 million, Hyundai Motor India at $56 million, Swiggy at $32 million, and NTPC Green Energy at $22 million. Afcons Infrastructure, OneSource Specialty Pharma, Sai Life Sciences, and Inventurus Knowledge are also set to enter the FTSE radar. The inclusion not only increases liquidity but also enhances global visibility for Waaree, which has gained prominence in recent quarters as a major solar module supplier. While the index development lifted sentiment, Waaree Energies also gained from positive media commentary around its resilience to U.S. policy changes, particularly former President Donald Trump's 'One Big Beautiful Bill', which proposes cutting back renewable energy incentives. The company has continued to gain traction in the U.S. market. Its American subsidiary, Waaree Solar Americas, has recently secured multiple large contracts, including a 586 MW module supply deal and a 599 MW order from top independent power producers To meet growing demand, Waaree plans to double the capacity at its Brookshire, Texas facility to 3.2 GW by end of 2025—a move seen as strategically vital to cementing its global market position. With Friday's upmove, the stock now trades 22 percent below its 52-week high of ₹ 3,740.75, touched in November 2024. It had earlier slumped to a 52-week low of ₹ 1,808.65 in April 2025, indicating a wide trading range over the past year. While June has so far seen a 2.3 percent decline, the stock had gained 14.4 percent in May, 8.3 percent in April, and 11.4 percent in March, following double-digit declines in February (-10%) and January (-16%). Importantly, Waaree Energies has now rallied nearly 98 percent from its IPO price of ₹ 1,503, underlining investor confidence in its execution and prospects. Kunal Kamble, Sr. Technical Research Analyst at Bonanza said, "Waaree Energies is currently forming an ascending triangle pattern on the daily time frame a bullish continuation setup that indicates accumulation and potential breakout. The stock showed strong buying interest from the support zone in today's session, supported by above-average volume, reinforcing bullish sentiment. It has managed to close decisively above the 20-day and 50-day EMAs, signaling a positive shift in short to medium-term trends. The Relative Strength Index (RSI) is placed at 62.19 and is sloping upward, suggesting strengthening bullish momentum. A decisive breakout above the ₹ 3050 level could attract fresh buying interest, potentially propelling the stock toward ₹ 3300 in the near term. Technical signals are aligning positively, and traders should keep a close watch for a breakout confirmation to ride the next leg of the rally."
Economic Times
8 hours ago
- Business
- Economic Times
Suzlon Energy shares rally 3% after fresh 170 MW wind order win
Shares of Suzlon Energy climbed as much as 2.8% on Friday to Rs 64.26 on the BSE after the renewable energy firm announced a fresh 170.1 megawatt (MW) wind power order from AMPIN Energy Transition—its third consecutive deal with the clean energy platform. ADVERTISEMENT In an exchange filing on Friday, Suzlon said, 'We have won a third successive repeat order of 170.1 MW from AMPIN Energy Transition Ltd. to supply 3.15 MW wind turbines for their proposed wind power project to be developed at Kurnool in Andhra Pradesh.' The project will involve the supply of 54 units of Suzlon's advanced S144 wind turbine generators, each with a rated capacity of 3.15 MW, mounted on Hybrid Lattice Towers. The company added that the scope of the project includes the 'supply, installation, and commissioning of the wind turbines,' and will be executed with Suzlon's equipment, along with comprehensive operation and maintenance services post this latest win, Suzlon's total order book from AMPIN now stands at 303 MW. ADVERTISEMENT Suzlon shares have risen 31% over the past year, 11% in the last three months, and 4% over the past month. The stock has remained in focus following a series of block deals earlier this week, where promoters sold 19.8 crore shares worth over Rs 1,300 crore at an average price of Rs 66.05 per the key institutional buyers were Goldman Sachs, Motilal Oswal, Societe Generale, ICICI Prudential, and Bandhan Mutual Fund. As of the March 2025 quarter, mutual funds held a 4.17% stake in Suzlon Energy, while promoter holding stood at just over 13%. ADVERTISEMENT From a technical standpoint, the stock is trading above five of its eight key simple moving averages (SMAs)—including the 30-day, 50-day, 100-day, 150-day, and 200-day SMAs—while remaining below the 5-day, 10-day, and 20-day Relative Strength Index (RSI) currently stands at 44.8. An RSI below 30 is typically considered oversold, while a reading above 70 is viewed as overbought. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 0.9—above the center line but below the signal line—indicating a mixed momentum setup for the stock in the near term. ADVERTISEMENT Also read | HDFC Bank shares in focus as Rs 12,500-crore HDB Financial IPO opens next week (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
8 hours ago
- Business
- Time of India
Suzlon Energy shares rally 3% after fresh 170 MW wind order win
Suzlon Energy shares rose up to 2.8% after securing a 170.1 MW wind power order from AMPIN Energy Transition—its third consecutive deal with the firm. The order involves supplying 54 advanced turbines for a project in Andhra Pradesh. With this, Suzlon's total order book from AMPIN reaches 303 MW. The stock remains in focus amid recent block deals and mixed technical signals. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Stock Gains and Technical Outlook Shares of Suzlon Energy climbed as much as 2.8% on Friday to Rs 64.26 on the BSE after the renewable energy firm announced a fresh 170.1 megawatt (MW) wind power order from AMPIN Energy Transition—its third consecutive deal with the clean energy an exchange filing on Friday, Suzlon said, 'We have won a third successive repeat order of 170.1 MW from AMPIN Energy Transition Ltd. to supply 3.15 MW wind turbines for their proposed wind power project to be developed at Kurnool in Andhra Pradesh.'The project will involve the supply of 54 units of Suzlon's advanced S144 wind turbine generators, each with a rated capacity of 3.15 MW, mounted on Hybrid Lattice company added that the scope of the project includes the 'supply, installation, and commissioning of the wind turbines,' and will be executed with Suzlon's equipment, along with comprehensive operation and maintenance services post this latest win, Suzlon's total order book from AMPIN now stands at 303 shares have risen 31% over the past year, 11% in the last three months, and 4% over the past month. The stock has remained in focus following a series of block deals earlier this week, where promoters sold 19.8 crore shares worth over Rs 1,300 crore at an average price of Rs 66.05 per the key institutional buyers were Goldman Sachs, Motilal Oswal, Societe Generale, ICICI Prudential , and Bandhan Mutual Fund. As of the March 2025 quarter, mutual funds held a 4.17% stake in Suzlon Energy, while promoter holding stood at just over 13%.From a technical standpoint, the stock is trading above five of its eight key simple moving averages (SMAs)—including the 30-day, 50-day, 100-day, 150-day, and 200-day SMAs—while remaining below the 5-day, 10-day, and 20-day Relative Strength Index (RSI) currently stands at 44.8. An RSI below 30 is typically considered oversold, while a reading above 70 is viewed as overbought. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 0.9—above the center line but below the signal line—indicating a mixed momentum setup for the stock in the near term.
Time of India
11 hours ago
- Business
- Time of India
Gold price prediction today: What's the gold rate outlook for June 20, 2025; why a 'sell on rise' strategy makes sense?
LKP Securities says traders should follow a Sell on Rise approach as long as prices remain below the ₹99,150–₹99,350 resistance zone. (AI image) Gold price prediction today: Gold prices have shown a weak trend in the past few days. Where are gold rates headed in the near-term and what should investors of gold do? Here's the analysis from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities: Gold prices opened with a significant gap-down in the June 20 session, reflecting prevailing weakness in COMEX Gold, and continue to trade with a bearish tone in domestic markets. The MCX Gold August Futures contract (05AUG2025) is currently quoting near ₹98,722 after touching an intraday low of ₹98,705, indicating persistent selling pressure at higher levels. Gold Price Outlook From a technical standpoint, the current setup favors a "Sell on Rise" strategy around the ₹99,000–₹99,150 levels. Here's why: 1. EMA Resistance Levels: The 8-period EMA is currently placed at ₹99,150, and the 21-period EMA is at ₹99,350. Prices are trading well below both averages, signaling a clear short-term downtrend. Any intraday pullback toward these levels is likely to attract fresh selling. 2. Bollinger Bands: The price action is hugging the lower Bollinger Band, a typical sign of trend continuation in strong bearish momentum. There's no indication of mean reversion yet, which suggests that rallies may be limited and short-lived. 3. Pivot Points: The previous day's pivot level near ₹99,200–₹99,350 now acts as a key resistance zone. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 가장 편안한 농장 게임. 설치 필요 없음 Taonga 플레이하기 Undo Failure to reclaim this zone reinforces the bearish outlook. 4. RSI (14): The Relative Strength Index is hovering near 32.75, which is close to the oversold region but not yet showing signs of bullish divergence. This supports the argument for further weakness before any meaningful reversal. 5. MACD: The MACD indicator is strongly negative with the MACD line at -34.71 and the histogram indicating increasing bearish momentum. The signal line remains far below zero, indicating a continuation of the downward trend. 6. Price Action & Gap Analysis: Today's gap-down open confirms a breakdown from the range-bound structure observed between June 17–19. This price gap indicates strong selling interest, likely due to pressure in international gold prices and a firmer dollar index. Conclusion: Traders are advised to follow a Sell on Rise approach as long as prices remain below the ₹99,150–₹99,350 resistance zone. The immediate downside targets lie near ₹98,300 and further lower toward ₹98,000 if the bearish sentiment intensifies. A stop loss can be considered above ₹99,500 to protect against unexpected short-covering rallies. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
11 hours ago
- Business
- Time of India
HDFC Bank shares in focus as Rs 12,500-crore HDB Financial IPO opens next week
Shares of HDFC Bank are set to be in focus on Friday, after its non-banking finance subsidiary, HDB Financial Services , announced the launch of its highly anticipated initial public offering . The Rs 12,500-crore public issue , India's largest by a non-bank lender, will open for subscription on Wednesday, June 25. HDB Financial Services filed its Red Herring Prospectus (RHP) with the Registrar of Companies on Thursday, HDFC Bank said in an exchange filing. The IPO will be open for three days and will close on June 27, with anchor investors set to bid on June 24. The offer will comprise a fresh issue of shares worth Rs 2,500 crore and an offer for sale (OFS) of Rs 10,000 crore by the promoter, HDFC Bank. At a price band of Rs 700–740 per share, the issue is expected to be the largest in the Indian market since Hyundai Motor India's Rs 27,870-crore listing in October 2024. Earnings snapshot HDB Financial posted a consolidated profit after tax of Rs 2,175.9 crore for the financial year ended March 2025, compared to Rs 2,460.8 crore in the previous year. However, its consolidated revenue from operations rose to Rs 16,300.3 crore, up from Rs 14,171.1 crore in FY24. Market reaction and technical view Shares of HDFC Bank have gained 16.7% over the past 12 months and are up 11% in the last three months. However, the stock has slipped 0.4% over the past week ahead of the IPO. From a technical standpoint, the stock is trading above five of its eight key simple moving averages (SMA)—including the 5-day, 50-day, 100-day, 150-day, and 200-day SMAs. It remains below its 10-day, 20-day, and 30-day SMAs. The Relative Strength Index (RSI) stands at 51.1, suggesting the stock is neither overbought nor oversold. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 6.2—still above its Center Line but currently below the signal line, indicating a neutral-to-cautious outlook in the near term. Also read | HDB Financial Services' Rs 12,500-crore IPO to open on June 25 ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
