Suzlon Energy Update: New Rs. 34 Target as Stock Rebounds: Suzlon’s new target price has been set at Rs. 34. Today, the stock has recovered from a 4% drop. Suzlon Energy’s shares have returned to a profitable position today, according to Vaishali Parekh, following a decrease to Rs. 19.90.
The Indian market has had a rocky start since Friday morning, but the Indian Nifty is trading back over 19300 today after falling as low as 19263. Meanwhile, Suzlon Energy’s shares fell; but, by the time this news was published, Suzlon Energy’s shares had regained profitability.
Suzlon Energy’s shares, which were trading at Rs. 19.9 on Thursday, fell by more than 4%. We’ve highlighted some key points from Thursday’s numbers for you below. An expert opinion is offered at the end of the article, indicating a target price for Suzlon Energy’s shares of up to 34.
• Suzlon Energy shares plummeted by more than 4% on Thursday, falling 4.19% to Rs. 19.40 from the previous closing level of Rs. 20.25 on the BSE.
• Suzlon Energy’s market capitalization has increased to Rs. 26,634 crore.
• On July 25, 2023, the stock hit a 52-week high of Rs. 21.25.
• On October 13, 2022, the stock hit a 52-week low of Rs. 6.60.
• The stock has gained 130.41% in the previous six months.
Market Expert Opinion:
According to Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, the stock has risen significantly from the Rs. 8 level and might potentially reach Rs. 34.
A ‘Buy’ rating and a target price of Rs 30 per share by September 2024 have been established by brokerage company JM Financial for Suzlon Energy Ltd., indicating a favorable outlook and the start of coverage. This upbeat outlook is justified by Suzlon’s strong order book and better financial situation.
According to JM Financial, Suzlon Energy has a robust collection of orders, a well-managed financial sheet, and favorable industry circumstances, all of which put it in a good position for development. According to the brokerage’s study, the company’s performance is anticipated to significantly improve in the next periods. JM Financial has begun coverage of the stock with a “Buy” rating and a target price of Rs 30 per share in light of this perspective. Suzlon Energy has shown tenacity despite adverse circumstances by retaining a sizeable 30–35% market share in the local market. Their cutting-edge technology and trustworthy operations and maintenance services are to thank for this success. JM Financial said that the company’s order book is growing and that a more advantageous product mix with stronger margins is expected to give a clear picture of revenue prospects over the next two years.
It is vital to remember that all of this information relates to Suzlon Energy’s performance. Furthermore, the target prices offered by experts should not be interpreted as a direct advise to trade in the market in any way.
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