Suzlon Energy Ltd (NSE: SUZLON): The stock market is trading with a profit once again on Thursday. Nifty opened above the level of 23500, but as soon as the market opened, all the levels got disturbed and Nifty came close to 23300 in the first five minutes.
Sharp selling is happening in the market and this is creating selling pressure. Even in this weak market, the share of Suzlon Energy Ltd is continuously rising. On Thursday also, the share price of Suzlon Energy Ltd hit an upper circuit with a gain of 5%.
The share of Suzlon Energy rose 5% to the level of Rs 65.33 on Thursday. The stock is recovering after falling from the upper level.
In the past four trading sessions in a row, the stock has been trading on the upper end of its circuit. During this period, the stock price crossed Rs 59 to Rs 65.
The share of multibagger Suzlon Energy Ltd fell 38% from its 52-week high in the last two months. After that, the prices are now getting better.
Suzlon Energy Ltd’s share touched a 52-week high of 86.04 rupees on September 12, 2024. After that, sharp selling was seen in this stock.
Brokerage firms are also advising to buy it from lower levels. A brokerage has maintained a Buy rating on this stock. It has an estimated price of 68 rupees. However, this recommendation was given from the lower level and now its targets are also coming.
The brokerage said that with ROE expected to grow to 25% by FY27, we believe the Suzlon Energy Ltd story is still developing.
Recent orders indicate a preference for the turbine manufacturer among state PSUs and C&I clients, and the recent acquisition of Renome Energy could help leverage over 32GW of non-Suzlon O&M opportunities. Recent developments in Suzlon have put the stock at attractive valuations.
A brokerage firm has maintained its target price on Suzlon at Rs 71. The brokerage stated in its report that the sharp decline seen in Suzlon Energy Ltd’s share is the perfect opportunity to build up the shares.
Suzlon Energy Ltd’s share had shown a 38% correction from its recent top level of 86.04 to the low of November 13.
On the trendline too, analysts are giving strong buy ratings in 7 reports of Suzlon Energy Ltd. In this way, the lower level of Suzlon Energy Ltd’s share price and the orders it is receiving are bringing life back to its stock.
Quick Fact
| Company name | Suzlon Energy |
|---|---|
| Current trend | Share price rising 5% |
| Thursday price (noon) | ₹65.33 |
| Circuit limit | Hit upper circuit |
| 4-day trend | Continuously rising |
| Recent range | ₹59 to ₹65 |
| 52-week high | ₹86.04 on Sep 12, 2024 |
| Recent low | ₹59 |
| Decline % | 38% from the top |
| Target price | Possible ₹68 to ₹71 |
| Analysts’ view | Strong buy ratings |
| ROE estimate | 25% by FY27 |
| Recent orders | From state PSUs, C&I |
| Acquisition | Renome Energy |
| O&M potential | 32GW non-Suzlon |
| Valuation | Attractive |
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