RNW Should I Buy
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Renew Energy Global PLC (RNW) is not a strong buy at the moment for a beginner investor with a long-term strategy. While the company shows strong growth in operating capacity and revenue, its financial performance is weakened by significant net income and EPS declines. Additionally, hedge funds are selling, and there are no strong proprietary trading signals or recent influential trades to support an immediate buy decision. It is better to monitor the stock for improved financials or stronger technical and sentiment indicators.
The MACD is positive and expanding, indicating bullish momentum. RSI is neutral at 69.88, and moving averages are converging, suggesting no strong directional trend. The pre-market price is $4.99, slightly above the pivot level of $4.848, with resistance at $4.971 and $5.048. Overall, the technical indicators are mixed and do not strongly support a buy decision.
ReNew Energy commissioned 2.4 GW of new renewable assets in FY2026, raising its total operating capacity to 12.6 GW, making it the second-largest renewable energy portfolio in India. Revenue increased by 36.10% YoY in Q3 2026.
Hedge funds are significantly increasing their selling activity, up 494.17% last quarter. No significant insider or congress trading activity was observed.
In Q3 2026, revenue increased by 36.10% YoY to $25.14 billion, and gross margin improved by 7.03% YoY to 61.79%. However, net income dropped significantly to -$198 million, down 94.90% YoY, and EPS declined to -0.54, down 94.95% YoY.
Morgan Stanley analyst Girish Achhipalia reinstated coverage with an Equal Weight rating and a price target of $6.03, indicating a neutral outlook.
