1:5 Split: Buy Wind Energy Stock For TP Rs 60, Shares Hit Upper Circuit Post Block Deal

Suzlon Energy shares hit 2nd consecutive upper circuit in trade on June 21 after the company witnessed block deal wherein 3.7 crore shares reportedly changed hands on Thursday, as per data available. As per reports, number of shares traded are worth 0.3% of Suzlon's total equity. The total transaction value of the block deal reported to be 179 crore with no details available pertaining to buyers and sellers. Last trading price of Suzlon Energy shares on BSE is Rs 53.04 per share with intraday gain of 4.99% as on June 21, 2024.

The company has a market capitalisation of Rs 72,154.88 crore. Suzlon Energy shares offered whopping returns of 279% in last 1-year. ICICI Securities has recommended buy call to Suzlon Energy shares with target price of Rs 60 per share. Meanwhile, brokerage firm Morgan Stanley issued an overweight rating to Suzlon shares with target price of Rs 58.5. Check details below:

Suzlon Energy Share Performance: Suzlon Energy shares gained 20% in last 1-month, offered return of 38% year-to-date, jumped 677% in last 2-years, and gave return of 633% in last 3-years, and surged 1168% in last 5-years. The 52-week high price of Suzlon Energy share on BSE is Rs 53.04 per share (as on 21/06/2024) and 52-week low price is Rs 13.28 per share (as on 23/06/2023). Suzlon Energy shares hit traded 52-week high on June 21, touched upper circuit on June 21 and on June 20.

FII Stake Jumps For March Quarter: It is worth mentioning FII/FPI increased holdings from 17.83% to 19.57% in March 2024 quarter. Number of FII/FPI investors increased from 464 to 574 in March 2024 quarter. Number of MF schemes increased from 17 to 23 in March 2024 quarter. Mutual Funds also increased holdings from 1.33% to 1.86% in March 2024 quarter, according to Trendlyne.

Suzlon Energy Dividend & Stock Split History: Suzlon Energy announced 4 dividends since February 3, 2006. Suzlon Energy split face value once since January 21, 2008. Suzlon Energy last sub-divided face value of its shares from Rs 10 to Rs 2 in 2008.Suzlon's shares quoted ex-split as on January 21, 2008. Suzlon Energy has not yet announced any bonus issue.

Suzlon Recent Order Win: Earlier on June 11, 2024, Suzlon Group announced a new order win for the development of 103.95 MW wind power project for AMPIN Energy Transition Private Limited. Suzlon will install 33 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each at the client's site in the Fatehgarh district in Rajasthan. This order is for the company's larger rated 3.15 MW, S144‐140m turbines from the 3 MW product series.

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 ICICI Securities. Greynium Information Technologies, 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.