Let’s start up with the current stock price of Azure Power Global Limited (AZRE), which is $44.75 to be very precise. The Stock rose vividly during the last session to $50.00 after opening rate of $41.62 while the lowest price it went was recorded $41.61 before closing at $40.77.
Recently in News on December 23, 2020, Azure Power Provides an Update on 4 GW Tender. Azure Power continues to work towards signing PPAs for the 4 GW manufacturing linked tender for which a Letter of Award (“LOA”) has already been received. The Solar Energy Corporation of India (“SECI”) has informed us that so far there has not been adequate response from the state electricity distribution companies (“DISCOMs”) for SECI to be able to sign the PSAs at this stage even though we have a LOA. SECI has mentioned that they will be unable to sign PPAs until PSAs have been signed, and they have committed to inform Azure Power of developments in their efforts with the DISCOMS. Capital costs, interest rates and foreign exchange rates have improved since Azure Power won the 4 GW auction a year ago which have resulted in lower tariffs in other recent SECI auctions. We expect these savings likely will be passed on to state electricity distribution companies (DISCOMS). We expect a tariff markdown from the price discovered in the auction, which will facilitate signing of PSAs. We will continue our discussions with SECI towards signing PPAs in respect of the 4GW tender and expect the PPAs to be signed in tranches over a period of time. We will continue our policy to only take on contracts that create shareholder value and earn returns that are above our cost of capital. You can read further details here
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Azure Power Global Limited had a pretty favorable run when it comes to the market performance. The 1-year high price for the company’s stock is recorded $50.00 on 01/04/21, with the lowest value was $41.61 for the same time period, recorded on 01/04/21.
Azure Power Global Limited (AZRE) full year performance was 252.64%
Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stock’s existing status and the future performance. Presently, Azure Power Global Limited shares are logging 3.71% during the 52-week period from high price, and 280.85% higher than the lowest price point for the same timeframe. The stock’s price range for the 52-week period managed to maintain the performance between $11.75 and $43.15.
The company’s shares, operating in the sector of Utilities managed to top a trading volume set approximately around 285766 for the day, which was evidently higher, when compared to the average daily volumes of the shares.
When it comes to the year-to-date metrics, the Azure Power Global Limited (AZRE) recorded performance in the market was 9.76%, having the revenues showcasing 43.38% on a quarterly basis in comparison with the same period year before. At the time of this writing, the total market value of the company is set at 2.12B, as it employees total of 605 workers.
The Analysts eye on Azure Power Global Limited (AZRE)
During the last month, 0 analysts gave the Azure Power Global Limited a BUY rating, 0 of the polled analysts branded the stock as an OVERWEIGHT, 0 analysts were recommending to HOLD this stock, 0 of them gave the stock UNDERWEIGHT rating, and 0 of the polled analysts provided SELL rating.
According to the data provided on Barchart.com, the moving average of the company in the 100-day period was set at 29.98, with a change in the price was noted +23.91. In a similar fashion, Azure Power Global Limited posted a movement of +114.73% for the period of last 100 days, recording 159,074 in trading volumes.
Total Debt to Equity Ratio (D/E) can also provide valuable insight into the company’s financial health and market status. The debt to equity ratio can be calculated by dividing the present total liabilities of a company by shareholders’ equity. Debt to Equity thus makes a valuable metrics that describes the debt, company is using in order to support assets, correlating with the value of shareholders’ equity The total Debt to Equity ratio for AZRE is recording 3.37 at the time of this writing. In addition, long term Debt to Equity ratio is set at 3.15.
Technical rundown of Azure Power Global Limited (AZRE)
Raw Stochastic average of Azure Power Global Limited in the period of last 50 days is set at 79.31%. The result represents improvement in oppose to Raw Stochastic average for the period of the last 20 days, recording 73.85%. In the last 20 days, the company’s Stochastic %K was 79.29% and its Stochastic %D was recorded 79.77%.
Considering, the past performance of Azure Power Global Limited, multiple moving trends are noted. Year-to-date Price performance of the company’s stock appears to be pessimistic, given the fact the metric is recording 9.76%. Additionally, trading for the stock in the period of the last six months notably improved by 179.69%, alongside a boost of 252.64% for the period of the last 12 months. The shares increased approximately by 22.80% in the 7-day charts and went down by 26.09% in the period of the last 30 days. Common stock shares were driven by 43.38% during last recorded quarter.