Suzlon share price jumps 5%, hits 52-week high on second day in a row; should you buy?
Suzlon Energy share price has gained 132%. Suzlon share price today opened at ₹24.30 apiece on BSE. Suzlon Energy share touched intraday high of ₹24.66 and low of ₹24.
As per trendlyne data, Suzlon stock price rose 200.6% and outperformed its sector by 135.6% in the past year. On Friday, Teq Green Power XI, a division of O2 Power, placed a significant order with the company for a 201.6 MW wind energy project, Suzlon Energy said in an exchange filing. The company, however, did not disclosed the order value.
For the 201.6 MW wind power project, the company will build 64 of its largest wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each, and the project is expected to be commissioned in 2025. Following the order win, Suzlon Energy shares have been trading higher for the third consecutive session and gained about 14%. Further, the brokerage house, JM Financial has initiated 'buy' rating for Suzlon Energy with a target price of ₹30 and estimates a potential upside of 38.6%.
The brokerage stated in its report that Suzlon Energy is best positioned to expand its order book (1.5GW/2GW as of Jun'23/Mar'26) and improve project execution (800MW/1500MW in FY24/FY26) benefiting from the industry headwinds due to its leading market share (33%), higher depth of manufacturing (4.5GW), most reliable O&M services (35%+ EBITDA), and technological superiority (3MW sets under testing). "With a visible bidding trajectory from MNRE, emergence of RTC - C&I segment, upcoming Repowering policy and multiple policy initiatives, the wind energy sector is poised for a decadal growth. As the company is on its way to become net-debt free, we expect the Suzlon to deliver revenue and EBITDA CAGR of
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