This report is an updated version of the report published on 4 November 2024 at 12:18 AM EST.

Company Overview: ReNew Energy Global PLC (NSQ: RNW) is a leading decarbonization solutions company listed on Nasdaq. ReNew's clean energy contracted portfolio, which stood at approximately 15.6 GW as of August 15, 2024, is among the largest in the world. Kalkine’s Daily Report covers the Key Financial Metrics, Risks, Outlook, Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock.

Section 1.0: Key Metrics in Pictures

Having looked at the key financial ratios above the below sections provide an in-depth fundamental, and technical analysis on this Utilities’ stock along with recommendations, technical support and resistance levels and indicative stop-loss.

Section 2.0: ReNew Energy Global PLC (NSQ: RNW) (‘Speculative Buy’ at USD 5.430, Closing Market Price as on 1 November 2024)

2.1 Company Details

2.2 Valuation, Stock Recommendation, and Technical Guidance

The stock has witnessed a decline of 8.89% in the last one month and over the last six months, it has fallen around 14.62%. The stock has a 52-week high and 52-week low of USD 7.79 and USD 5.26, respectively and is currently trading below the average of 52-week low and high. RNW was previously covered in a report dated ’17 July 2024’.

(Source: REFINITIV; Analysis by Kalkine Group)

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 1 November 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.