Suzlon Share Price Target 2023: Shares of Suzlon Energy Ltd (NSE: SUZLON) hit a 5 per cent upper circuit after the stock hit fresh 52-week high at Rs 35.95 apiece on the National Stock Exchange (NSE) Monday, 6th November, 2023 on higher volume.
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Leading wind player shares have hit the 5 per cent upper circuit and a 52-week high at Rs 34.4 in Friday’s trade on BSE after the firm reported a 79 per cent year-on-year (YoY) growth in its net profit for the quarter ended September to Rs 102 crore on improved operating performance against Rs 57 crore in the September quarter of last year.
Suzlon Share Price Target
Following the Q2 FY24 results, brokerage firm JM Financial maintained its ‘Buy’ rating on Suzlon Energy with a revised target price of Rs 37.
“We have revised our estimates for FY25E/26E upwards driven by healthy order inflow, better execution visibility and an improving product portfolio,” the report said.
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Suzlon Share Price History
The stock witnessed gap-up opening with a gain of 4.96 per cent today and touched an intraday high of Rs 35.95 apiece (4.96%). The stock opened at Rs 35.95 apiece and has since traded at this price. It has been trading higher than 5 day, 20 day, 50 day, 100 day and 200 Day moving averages.
The delivery volume of 2.68 crore on 3rd November has risen by 173.72 per cent against 5-day average delivery volume. Based on 2 per cent of 5 day average traded value the stock is liquid enough for trade size of 4.2 crore.
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The stock has been gaining for the last four days and has risen 17.48 per cent returns in this period. The stock’s performance has been inline with the sector today. The renewable energy sector has gained by 5.31 per cent.
