Onix Solar Energy Achieves 52-Week High Amid Broader Market Challenges

Onix Solar Energy has made headlines today as its stock price reached a new 52-week high of Rs. 500, marking a significant milestone for the microcap company in the non-ferrous metals industry. This achievement comes after a remarkable performance over the past 14 days, during which the stock has gained 31.84%.
Today, Onix Solar Energy outperformed its sector by 3.41%, opening with a 2% gain and maintaining its price throughout the trading session. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.

In contrast, the broader market is experiencing challenges, with the Sensex opening lower at 80,695.50 and currently trading down by 0.75%. Over the past three weeks, the Sensex has seen a decline of 1.97%, while Onix Solar Energy has demonstrated resilience with a remarkable one-year performance of 420.02%, significantly outpacing the Sensex's decline of 1.03%. The stock's previous 52-week low was recorded at Rs. 96.15, highlighting its impressive recovery and growth trajectory.