Suzlon Energy share price has shown significant movement in the stock market, reflecting the company’s ongoing developments and market conditions. This article provides an overview of the current share price, recent news, and important performance levels for investors and stakeholders.
Main Points
- 1 Current Share Price Update
- 2 Key Performance Metrics
- 3 Recent News Impacting Suzlon Energy
- 4 1. Acquisition of Renom
- 5 2. Corporate Office Sale
- 6 3. Quarterly Results
- 7 4. Debt Management
- 8 5. Market Sentiment
- 9 Technical Analysis and Important Levels
- 10 Support and Resistance Levels
- 11 Moving Averages
- 12 Future Performance Expectations
- 13 Investor Recommendations
On September 11, 2024, Suzlon Energy’s share price closed at ₹81.95, marking a notable increase of 5% from the previous day’s close of ₹78.05. This upward trend is part of a broader recovery, as the stock has surged approximately 69.81% over the last three months and an impressive 1211.20% over the past three years.
Key Performance Metrics
- Current Price: ₹81.95
- Previous Close: ₹78.05
- Day Range: ₹75 – ₹77
- 52-Week Range: ₹21.70 – ₹84.29
- Market Capitalization: ₹111,728 Crores
- P/E Ratio: 129.65
- Book Value: ₹2.88
These metrics indicate a robust performance, particularly in light of the company’s recent financial results and operational strategies.
Recent News Impacting Suzlon Energy
Several key developments have influenced Suzlon Energy’s stock performance recently:
1. Acquisition of Renom
Suzlon Energy has completed a 51% acquisition of Renom, making it a subsidiary for ₹400 crore. This strategic move aims to enhance its operational capabilities in the renewable energy sector, particularly in wind energy solutions.
2. Corporate Office Sale
The company has finalized the sale of its corporate office to 360 ONE, which is expected to positively impact its financial standing. This decision is part of a broader strategy to streamline operations and focus on core business areas.
3. Quarterly Results
In its latest quarterly report, Suzlon Energy reported a total income of ₹2,044.35 crore and a loss of ₹302.29 crore for the quarter ending June 30, 2024. While the loss may raise concerns, the overall revenue growth indicates a positive trend in operational performance.
4. Debt Management
Suzlon has made significant strides in reducing its debt, which is a positive indicator of financial health. The company’s debt-to-equity ratio stands at a manageable level, reflecting a commitment to maintaining a healthy balance sheet.
5. Market Sentiment
Investor sentiment towards Suzlon Energy remains strong, with institutional holdings increasing in the last reported quarter. This trend suggests confidence in the company’s future prospects and operational strategies.
Technical Analysis and Important Levels
Support and Resistance Levels
For investors looking to make informed decisions, understanding the support and resistance levels is crucial. Based on recent trading patterns:
- Resistance Level (R1): ₹84.29 (52-week high)
- Support Level (S1): ₹74.14 (lower limit)
Moving Averages
Suzlon Energy’s stock is currently positioned well above its key moving averages, indicating strong technical strength. The stock is approximately 13% above its 50-day moving average and 54% above its 200-day moving average, suggesting bullish momentum in the market.
Future Performance Expectations
Given the recent developments and current market trends, analysts predict that Suzlon Energy’s stock may continue to perform well in the short term. The company’s strategic acquisitions, debt reduction efforts, and positive market sentiment are likely to contribute to its growth trajectory.
Investor Recommendations
Investors should monitor the following factors:
- Market Trends: Keep an eye on broader market movements and sector-specific developments that could impact share prices.
- Financial Reports: Upcoming quarterly results will provide further insights into the company’s operational efficiency and profitability.
- Technical Indicators: Regularly assess support and resistance levels to make informed trading decisions.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
