1:5 Split, Shares Zoom 784% In 2-Yrs: Energy Stock Becomes Debt-Free, Buy For TP Rs 65

Suzlon Energy shares gained 203% in last 1-year and the company has also become debt-free by raising fund via several methods namely rights issue and QIP. Suzlon Energy has reportedly a cash balance of Rs 1100 crore by the end of March quarter. Meanwhile, brokerage firm Choice Broking has recommended buy call to Suzlon Energy with target price of Rs 65 per share as the overall trend for the stock appears bullish.

The FII-backed company has a market capitalisation of Rs 74,500.87 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 Share Performance: The 52-week high price of Suzlon Energy share on BSE is Rs 56.45 per share (as on 05/07/2024) and 52-week low price is Rs 17.33 per share (as on 14/07/2023). Suzlon Energy shares gained 30% in last 3-months, soared 42% year-to-date, zoomed 784% in last 2-years, and surged 1104% in last 5-years.

Suzlon Energy Gets Buy Rating: According to brokerage firm Choice Broking, "It is advisable to consider buying on dips, particularly around Rs 52, capitalizing on potential retracements in the stock price. To prudently manage risk, implementing a stop-loss (SL) at Rs 49.4 is recommended. This precautionary measure is crucial to safeguard investments in the event of an unexpected market reversal."

Overall trend for Suzlon appear strong, with confluence from several technical indicators reinforcing the positive outlook. Given these signals, there is potential for the stock to achieve a target price of Rs 63 & Rs 65 in the near term, added Choice Broking.

FII Stake: FII/FPI have increased holdings from 17.83% to 19.57% in Mar 2024 qtr. Number of FII/FPI investors increased from 464 to 574 in March 2024 quarter. Mutual Funds have increased holdings from 1.33% to 1.86% in March 2024 quarter. Number of MF schemes increased from 17 to 23 in March 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 Choice Broking. 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.