Suzlon Energy Share Price Surges Ahead of Quarterly Results, Analysts Bullish on Long-Term Prospects
Suzlon Energy’s share price has been on a steady upward trajectory in recent weeks, with analysts predicting a positive outlook for the company’s future performance. The stock closed at ₹81.95 on Monday, September 16, 2024, up 3.85% from the previous trading session.
The company’s strong momentum is driven by several factors, including its robust order book, strategic acquisitions, and the growing demand for renewable energy solutions. Suzlon Energy recently completed the acquisition of a 51% stake in Renom for ₹400 crore, making it a subsidiary.
Main Points
- 1 Analysts Bullish on Suzlon Energy’s Long-Term Prospects
- 2 Suzlon Energy Reports Decline in Net Profit, but Order Book Reaches Record High
- 3 Suzlon Energy Wins New Orders for Wind Energy Projects
- 4 Suzlon Energy’s Earnings Release Disappoints Investors
- 5 Suzlon Energy’s Share Price Forecast and Technical Analysis
Analysts Bullish on Suzlon Energy’s Long-Term Prospects
Analysts remain bullish on Suzlon Energy’s long-term prospects, with a target price of ₹71.73, indicating a slight downside of -13.69% compared to the current price. The company’s strong technical position, with support at ₹43 followed by ₹41 and resistance around ₹50-52 for the short term, makes it an attractive investment option.
Suzlon Energy Reports Decline in Net Profit, but Order Book Reaches Record High
Despite reporting a decline in consolidated net profit for both Q4 FY24 and the 2023-24 financial year, Suzlon Energy recorded its largest-ever order book of 3.3 GW. The company’s revenue growth and profitability are expected to improve in the coming quarters as it executes these orders.
Suzlon Energy Wins New Orders for Wind Energy Projects
Suzlon Energy has recently won a new order to develop 402 MW wind energy projects for Juniper Green Energy. The project, located in Rajasthan, will include 134 wind turbine generators with a rated capacity of 3 MW each. The announcement of this order led to a 5% surge in Suzlon Energy’s share price.
Suzlon Energy’s Earnings Release Disappoints Investors
Suzlon Energy’s latest earnings release disappointed investors due to weak cash flow relative to earnings and dilution, indicating lower-quality earnings. However, analysts remain optimistic about the company’s long-term prospects, citing its strong technical position and growing order book.
Suzlon Energy’s share price is expected to continue its upward trend in the coming days, with a predicted trading range of ₹79.41 to ₹86.32 for tomorrow. The stock’s price is above an important level of ₹75.88 on the charts, and as long as it remains above this level, the uptrend might continue.
The company’s 52-week high is ₹84.29, and its 52-week low is ₹21.70. Suzlon Energy’s PE ratio is 129.65, and its market capitalization stands at ₹1,11,728 crore
