1:5 Split: Energy Stock Hits Upper Circuit, Buy Recommended For TP Rs 58: Anand Rathi

Suzlon Energy shares hit 5% upper circuit in trade today on BSE after the company on July 22 reported a massive jump of 200% YoY in its consolidated net profit for the quarter ended June 30, 2024 to Rs 302 crore as against Rs 101 crore reported in the corresponding quarter of last year. Current market price of Suzlon Energy share on BSE is Rs 57.79 per share with gain of 4.94% at the time of writing the story. Suzlon Energy shares offered return of 193% in last 1-year and gained 845% in last 2-years. The FII-backed company's market capitalisation stood at Rs 78,738.21 crore. Suzlon Energy conducted stock split once in the ratio of 1:5 in 2008. Suzlon Energy has recommended 4 dividends so far Check details below:

Suzlon Energy Results: Suzlon Energy declared its revenue from operations at Rs 2016 crore for the June 2024 quarter, up 50% as against Rs 1348 crore declared in the corresponding quarter of last year. EBITDA of Suzlon Energy for Q1 FY25 declared at Rs 370 crore, up 86% as compared to Rs 199 announced in Q1FY24. EBITDA margin for the quarter under review announced at 18.4% up from 14.8% in the year-ago period.

Should You Buy Suzlon Energy? Brokerage firm Anand Rathi has recommended buy call to Suzlon Energy Share with target price of Rs 58 as the company is likely to benefit from the soaring demand in utilities, commercial, and industrial segment. According to the analyst, "Suzlon has been faced with turbulence in the past due to weak demand and high debt, which hurt its prospects. However, its balance sheet turned around sharply, with greater demand aided by the government's ambitious targets. We expect 1.5/2GW deliveries in FY 25/26. We value the stock at 35x FY26e PE, given the strong tailwinds."

Suzlon Energy Share Performance: The 52-week high price of Suzlon Energy share on BSE is Rs 57.82 per share (as on 23/07/2024) and 52-week low price is Rs 17.43 per share (as on 27/07/2023). Suzlon Energy shares gained 38% in last 3-months, soared 49% year-to-date, zoomed 754% in last 3-years, and surged 1418% in last 5-years. Suzlon Energy shares also hit 52-week high in trade today.

FII Stake: FII/FPI have increased holdings from 19.57% to 21.53% in June 2024 quarter. Number of FII/FPI investors increased from 574 to 652 in June 2024 quarter. Mutual Funds have increased holdings from 1.86% to 3.82% in June 2024 quarter. Number of MF schemes remains unchanged at 23 in June 2024 quarter. Institutional Investors have increased holdings from 25.88% to 30.69% in June 2024 quarter, according to Trendlyne.
Suzlon Energy Dividend Suzlon Energy Ltd. has declared 4 dividends since February 3, 2006.

Suzlon Stock Split History: Suzlon Energy split the face value 1 time since January 21, 2008. Suzlon Energy last split the face value of its shares from Rs 10 to Rs 2 in 2008.The share quoted ex-split as on January 21, 2008. Suzlon Energy never declared any bonus share so far.

Suzlon Energy About: With over 29 years of operational track record, the Group has a diverse workforce of over 6,200 employees. Suzlon is also India's No. 1 wind energy service company with the largest portfolio of over 14.7 GW in wind energy assets. The Group has ~6 GW of installed capacity outside India, according to its official website.

Disclaimer:

The stock has been picked from the brokerage report of Anand Rathi. Greynium InformationTechnologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.