ReNew Energy Global (RNW) Soars 1.60% on Strong Earnings

ReNew Energy Global (RNW) shares surged 1.60% today, marking the second consecutive day of gains, with a total increase of 3.09% over the past two days. The stock price reached its highest level since January 2025, with an intraday gain of 2.03%.

The strategy of buying RNW shares after they reached a recent high and holding for one week resulted in a 20.04% return over the past five years, compared to a benchmark return of 49.45%. The strategy had a Sharpe ratio of 0.19, a maximum drawdown of -39.23%, and a volatility of 41.98%, indicating a challenging risk-return profile.

BNP Paribas Financial Markets recently acquired a new position in ReNew Energy Global shares during the fourth quarter, valued at $25,000. This move suggests growing investor interest and confidence in the company's future performance, which could positively impact the stock price.

ReNew Energy Global operates an extensive clean energy portfolio, totaling 17.4 GW as of December 31, 2024. This portfolio includes over 150 projects spread across 10 Indian states, highlighting the company's significant market presence and potential for growth. The scale and diversity of its operations could attract more investors, further driving the stock price.

In its latest financial report, ReNew Energy Global announced a 31% year-over-year increase in Profit After Tax. The company also reiterated its guidance for FY25 MW and EBITDA, indicating a positive outlook for the future. This strong financial performance and optimistic forecast are likely to enhance investor confidence and support the stock's upward trajectory.