Suzlon Energy share price hits 52-week high. Increases by 50% in one month

Suzlon Energy share price has been in an upward trend since mid-May 2023. After reaching the lowest point at 8.20 a piece in mid-May 2023, Suzlon’s share price has risen by par 16.80 per piece, providing almost a multi-bag return to its shareholders during this month and a half. However, there appears to be some ridge steam left in this energy store. Suzlon share price today moved to the upside and continued to touch a fresh 52-week high 16.80 apiece on the NSE, registering a 10 percent intraday gain over Friday’s closing price 15.30 for the stock level. Climbing to this new 52-week high, Suzlon Energy also shares a 10% upper chain.

Suzlon Energy share price has been in an upward trend since mid-May 2023. After reaching the lowest point at 8.20 a piece in mid-May 2023, Suzlon’s share price has risen by par 16.80 per piece, providing almost a multi-bag return to its shareholders during this month and a half. However, there appears to be some ridge steam left in this energy store. Suzlon share price today moved to the upside and continued to touch a fresh 52-week high 16.80 apiece on the NSE, registering a 10 percent intraday gain over Friday’s closing price 15.30 for the stock level. Climbing to this new 52-week high, Suzlon Energy also shares a 10% upper chain.

The share price of Suzlon Energy has been on an upward trend for the past one and a half months, with the energy stock rising from approx. 8.20 to 16.80 per piece, giving over 100 percent returns during this time. Over the past month, this share has grown from approx 11 to 16.80 per level, which is almost a 50% increase over the period. However, ICICI Securities seems to have more upside on Suzlon Energy shares.

The share price of Suzlon Energy has been on an upward trend for the past one and a half months, with the energy stock rising from approx. 8.20 to 16.80 per piece, giving over 100 percent returns during this time. Over the past month, this share has grown from approx 11 to 16.80 per level, which is almost a 50% increase over the period. However, ICICI Securities seems to have more upside on Suzlon Energy shares.

Giving Suzlon Energy a buy rating, the broker said, “India’s power grid needs more wind. Stakeholders have finally seen the need to increase wind capacity (after little activity in the recent past). Grids are looking for a solution to efficiently meet demand while limiting carbon emissions . The supply of renewable energy can be increased by creating a combination of wind, solar and battery storage capacities. Optimal solutions for the grid to meet the demand using renewable energy sources include a combination of larger amounts of wind (about 8 GW per year) determined by the complementary of the wind generation and cost curves character.

Giving Suzlon Energy a buy rating, the broker said, “India’s power grid needs more wind. Stakeholders have finally seen the need to increase wind capacity (after little activity in the recent past). Grids are looking for a solution to efficiently meet demand while limiting carbon emissions . The supply of renewable energy can be increased by creating a combination of wind, solar and battery storage capacities. Optimal solutions for the grid to meet the demand using renewable energy sources include a combination of larger amounts of wind (about 8 GW per year) determined by the complementary of the wind generation and cost curves character.

The brokerage went on to add that India has launched a series of policy initiatives: 1) single stage sealed bidding (as opposed to reverse e-auction), 2) 10 GW wind auction per year and 3) wind specific RPOs, etc. likely to create headwinds for the industry and we believe Suzlon Energy (Suzlon), the market leader, is best placed to reap its benefits. The “net debt / EBITDA” ratio on Suzlon’s balance sheet has also come down to ~1x (from ~10x in FY22). Start with BUY.

The brokerage went on to add that India has launched a series of policy initiatives: 1) single stage sealed bidding (as opposed to reverse e-auction), 2) 10 GW wind auction per year and 3) wind specific RPOs, etc. likely to create headwinds for the industry and we believe Suzlon Energy (Suzlon), the market leader, is best placed to reap its benefits. The “net debt / EBITDA” ratio on Suzlon’s balance sheet has also come down to ~1x (from ~10x in FY22). Start with BUY.

On a recommendation for positional investors on Suzlon Energy shares, ICICI Securities said, “We believe Suzlon is best placed to benefit from industry tailwinds. We expect strong earnings growth in FY24E and beyond. Start with BUY and target price: 22 per share (giving a multiple of 24x FY25E EPS).

On a recommendation for positional investors on Suzlon Energy shares, ICICI Securities said, “We believe Suzlon is best placed to benefit from industry tailwinds. We expect strong earnings growth in FY24E and beyond. Start with BUY and target price: 22 per share (giving a multiple of 24x FY25E EPS).

Disclaimer: The opinions and recommendations expressed in this article are those of individual analysts. They do not reflect the views of Mint. We recommend that investors consult certified experts before making any investment decisions.

Disclaimer: The opinions and recommendations expressed in this article are those of individual analysts. They do not reflect the views of Mint. We recommend that investors consult certified experts before making any investment decisions.

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