Are you a daily share trader? Then you must see how Suzlon share price fluctuates and if you have already purchased it with a low amount of money then after Wednesday you will get the chance to break your account and hit the maximum profit margin. The Suzlon share price
gained 5% on Wednesday and another 4.8% on Thursday.
According to Friday’s move, Suzlon’s market capitulation crossed the mark of ₹1 lakh cr. That is not also ending; currently, they skim the bar of ₹1.02 lakh cr. Suzlong’s Energy saw multiple large traders that took place On Thursday with 4.8 cr share along with 0.4% of the company’s total equity. These trades are worth ₹346 cr. You can see how these shares change by the hands based on the average price of ₹72 /share.
Suzlon closed at ₹76.58, up 4.98% from yesterday’s
Suzlon share price closes at ₹76.58. The wind turbine manufacturer on Tuesday announced the acquisition with a 76% stake of Renom Energy Services. Renom Energy Services belongs to the Sanjay Ghodawat Group with two tranches of ₹660 cr.
In an dealings with CNBC-TV18 on Wednesday Suzlon Group CEO JP Chalasani said the company will not hook Renom with itself and it will resume as an independently operated company.
He also said that the operations and management of the business will provide stability to the company’s finances. The brokerage firm Morgan Stanley stays overweight with Suzlon’s price target of ₹73.4 per share. This note will go to say the suggested valuation of 4x price-to-sales that is cheaper than Suzlon’s listed peering.
Three out of the fine analysts have coverage of Suzlon’s Energy. You can actually buy the rating of the stock along with the other two hold ratings. Suzlon made a stock market debut by the end of 2005 with an IPO price of ₹500. This stock has headwinds that fell to the level of ₹2 in 2019, right before the recovery of 2023 in this year.
Overview of Suzlon Energy Ltd. Share Price
Check out the Suzlon share price overview.
| Open | 74.60 | High | 76.56 | All-Time High | 459.80 |
| Previous Close | 72.92 | Low | 73.00 | All Time Low | 1.70 |
| Volume | 142,611,445 | UC Limit | 76.56 | 20D Avg Volume | 107,061,454 |
| Value (Lacs) | 109,154.80 | LC Limit | 69.27 | 20D Avg Delivery(%) | — |
| VWAP | 75.32 | 52 Week High | 76.56 | Book Value Per Share | 2.88 |
| Beta | 0.91 | 52 Week Low | 18.90 | Dividend Yield | — |
| Mkt Cap (Rs. Cr.) | 104,394 | Face Value | 2 |
Suzlon Energy’s Market Cap Crosses Rs 1 lakh cr, where is the stock led?
The Suzlon share price of Suzlon Energy hit a fresh 52-week high on Friday with the multi-bagger stock market capitalization that crosses the Rs 1 lakh cr benchmark for the first time. Suzlon Energy stock skimmed the upper circuit of 5% with Rs 76.59 against any type of the last closes with Rs 72.95 on BSE.
By 2:57 pm the market cap with the renewable energy stock present stood at Rs 1.04 lakh cr. The multi-bagger stock was also going to notice a high turnover of Rs 202.12 cr after 267.81 lakhs of shares changed the hands of BSE today.
The stock trading is in a bullish zone that is above 5 days,10 days,20 days, 50 days, and 100 bays with 200-day moving averages. That is a clear indication that there are more buyers than sellers for the stocks in the long term.
According to today’s rally, they had pushed the renewable energy stocks in the overbought areas. That indicates its relative strength indexing RSI. RSI is a multi-bagger stock that stood at 73.8. An RSI of 70 and above indicates that the stock is trading in the overbought zone.
The third session of gains for the Suzlon Energy stock
For the previous session, the Suzlon share price increased by 5% and through the upper circuit with Rs 73.04 on BSE and surged by 297% from the 52-week low in the last year.
The multi-bagger renewable energy stocks are currently trading at 14 years higher. The Suzlon Energy stock fell into the 52-week low with Rs 19.30 on August 14 3023. The multi-bagger stocks opened at Rs 74.60 against the closers of Rs 72.95 on BSE. The Suzlon Energy shares have a beta of 0.8, indicating low volatility in a single year.
The manager of Anand Rathi Securities Jigar S Patel said
“Suzlon’s stock chart appears promising, showing positive momentum. However, caution is advised as the stock is trading significantly above all major key moving averages. This suggests 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 65. This range provides a potential entry point for long positions, with an anticipated upside target of Rs 80. To manage risk, a stop-loss should be placed below Rs 61 on a daily closing basis.”
The technical research analyst of YES Securities Laxmikant Shukla rated the Suzlon share price with a price target of Rs 80. That you can fix and stop the loss of Rs 65. He also states
“Suzlon is now showing signs of revival after experiencing a profit booking over the past two days where prices declined from a peak of Rs 72 to a low of Rs 65. The stock has found stability near its line of parity after two days of straight fall. Additionally, the stock is still trading above all its key moving averages accompanied by the formation of bullish candles indicating a shift from a bearish to a bullish price trend. Looking at these factors, one can utilize this dip as a buying opportunity and expect a pullback move on the upside till Rs 80 with the stop loss of Rs 65 on a closing basis,”
According to Geojit brokerage Suzlon share price profit-making chances.
“CAGR & ROE are expected to surpass those of the industry peers for FY24-26E. “We anticipate order inflows to be strong in this period, supported by strong government tendering and from commercial and industrial customers. We expect the revenue CAGR of 53 percent to drive the EPS growth of 66 percent CAGR, resulting in ROE improvement,”.
From Thursday’s report, we know Suzlon share price inked and executed the definitive agreements for the acquisition of the 76% stake in Renom Energy Services. From the two tranches, we know Sanjay Ghodawat Group is the largest multi-brand operation and maintenance service. That provides the country with the assets of 1,782 MW in Wind and 148 MW in Solar with 572 MW in the BOP maintained across the different customer’s segments.
In Conclusion:
Suzlon Energy’s first-time tranche of the Renom Energy deal would affect the purchase of a 51% stake for the consideration of Rs 400 cr. From the second tranche, Suzlon Energy will receive the additional 25% stakes of Suzlon share price within 18 months from the acquisition of the first tranche for the 260 cr consideration.
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