Suzlon Energy Ltd’s share price closed at ₹76.52 on August 30, 2024, a decrease of 0.65% from the previous trading session. Despite the slight dip, analysts remain optimistic about the company’s long-term growth prospects, citing its strong order book and focus on renewable energy solutions.
Main Points
- Suzlon Energy Ltd share price ranged between ₹76.00 and ₹77.58 during the trading session.
- The company’s market capitalization stands at ₹1.05 Lakh Crore.
- The stock’s 52-week high is ₹84.29 and 52-week low is ₹21.70.
Next Day Price Forecast and Technical Analysis
Technical indicators suggest that Suzlon Energy’s share price may find support at around ₹75.00, with resistance at ₹78.00. Analysts recommend keeping a close eye on the stock’s performance in the coming days, as a break above ₹78.00 could lead to further gains.
Fundamental Analysis and Today’s Target Prediction
Fundamental analysis of Suzlon Energy’s financials shows that the company has been profitable in recent quarters, with a net profit of ₹121.14 crore for the quarter ended June 2024. Analysts predict that the stock could reach a target price of ₹70.00 to ₹73.40 in the near term, based on the company’s strong order book and growth prospects in the renewable energy sector.
Buyback News and Important Levels
Suzlon Energy has not announced any buyback plans recently. However, the company’s stock has been trading above important support levels of ₹70.00 and ₹75.00, which could act as crucial support in the event of any further downside.
The slight dip in Suzlon Energy’s share price today can be attributed to profit-booking by investors after the stock’s recent rally. However, analysts believe that the company’s strong fundamentals and growth prospects in the renewable energy sector will continue to drive investor interest in the long run.
52-Week High Low and Analyst Ratings
Suzlon Energy’s 52-week high of ₹84.29 was recorded on August 13, 2024, while the 52-week low of ₹21.70 was recorded on September 13, 2023. Analysts remain bullish on the stock, with 3 out of 5 analysts recommending a “Strong Buy” and 1 out of 5 analysts recommending a “Buy”.
Note: This article is written for educational purposes, Local Haryana does not provide buying and selling of any kind of stock
