Reportedly the stock of leading solar energy production company Insolation Energy Ltd saw a jump on Thursday. During this period, its shares rose more than 5 per cent to reach the intra-day level of Rs 4,289. This rise in the shares has come after a big deal of the company. The power production company signed an MoU for a big deal of Rs 10,000 crore in Rajasthan. If we look at the data of the company's shares for the last five years, during this period this stock gave a great return of more than 4300 percent to the investors, while its price increased from Rs 97 to the current level. In this way it has given a bumper return of 43 times. At the same time, this year i.e. in 2024, this stock has given the highest return of 440 percent in any one year so far.
Perhaps the power production company has informed the stock market that its wholly-owned subsidiary Insolation Green Energy Private Limited has signed an MoU of Rs 10,000 crore for solar energy production, component manufacturing, EPC projects and solar parks in Rajasthan. This agreement has been done under the Rising rajasthan Global Investment Summit 2024 and will be applicable till the year 2030.
Performance of the company's shares
52-week low: Rs 595.15 (November 30, 2023)
52-week high: Rs 4750 (November 8, 2024)
Total gain in the stock in 2024: 438 per cent
Return in one year: 539 per cent
Moreover according to technical indicators, the Relative Strength Index (RSI) of this stock is 53.5, which shows that the stock is neither overbought nor oversold. The company's shares are trading above the 5-day, 20-day, 30-day, 50-day, 100-day and 200-day moving averages.
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