Multibagger Wind Energy Stock Hits Upper Circuit, Buy For Fresh TP of Rs 75: Anand Rathi

Suzlon Energy shares today hit fresh 52-week high and touched upper circuit as well. Suzlon Energy Ltd shares gained 31% in last 2-weeks and rose 286% in last 1-year. Current market price of Suzlon Energy stock on BSE is Rs 71.45 per share. Brokerage firm Geojit has recommended buy call with target price of Rs 73 per share for a target period of 12 months. Meanwhile, Anand Rathi too has suggested buy call with target price of Rs 75 per share. Suzlon Energy has a market capitalisation of Rs 97,349.80 crore. The FII-backed company carried out stock split in the proportion of 1:5 in the year 2008. FII/FPI have increased holdings from 19.57% to 21.53% in June 2024 quarter. More details below:

Suzlon Energy Gets Buy Buy Call: According to the brokerage firm, "Suzlon 2.0 is a de-levered, optimised, profit-making business which has done away with its troubled past and is looking at a vibrant landscape of opportunities in India and abroad."

Anand Rathi said that Suzlon's chart looks to be promising, highlighting positive momentum. The analyst said, "however, caution is advised as the stock is trading significantly above all major key moving averages. This suggests the possibility of a reversion to the mean, where the stock could pull back to its average price levels. Moving forward, the support zone is identified at Rs 64 - Rs 65. This range provides a potential entry point for long positions, with an anticipated upside target of Rs 75. To manage risk, a stop-loss should be placed below Rs 61, based on a daily closing basis."

Suzlon Energy Share Performance: The 52-week high price of Suzlon Energy share on BSE is Rs 71.45 per share (as on 02/08/2024) and 52-week low price is Rs 17.73 per share (as on 03/08/2023). Suzlon Energy shares rallied 71% in just last 3-months, zoomed 86% year-to-date, and gained 974% in last 2-years, and offered return of 1736% in last 5-years. Suzlon Energy shares have already hit 3rd 52-week high in trade today.

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.

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 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 and Geojit Financial Services. 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.