Authored by : Abhinav Ranjan Updated May 29, 2024 | 09:06 AM IST Brokerages Nuvama and ICICI Securities have assigned BUY rating on Suzlon Energy shares.
(Pic: Shutterstock/ET NOW)Suzlon Energy Share Price Target: Brokerage firms Nuvama and ICICI Securities are very much bullish on renewable energy solutions provider Suzlon Energy (power stock under Rs 50).
Suzlon Energy Share Price Target 2024Nuvama further said that "strong tailwinds would be a powerful growth enabler" for Suzlon Energy.
It has recommended BUY rating on Suzlon Energy shares for a target price of Rs 53.
Suzlon Energy Share Price HistorySuzlon Energy is a constituent of S&P BSE 500.
Authored by : Abhinav Ranjan Updated May 29, 2024 | 09:06 AM IST Brokerages Nuvama and ICICI Securities have assigned BUY rating on Suzlon Energy shares. (Pic: Shutterstock/ET NOW)
Suzlon Energy Share Price Target: Brokerage firms Nuvama and ICICI Securities are very much bullish on renewable energy solutions provider Suzlon Energy (power stock under Rs 50).
Nuvama said that Suzlon Energy is getting benefits of restructured balance sheet. The brokerage said that Suzlon Energy is capable of sustaining its lead in wind turbine generators (WTG)/turnkey EPX execution.
Novama expects the company's order book and PAT to grow at CAGR of 21 per cent and 61 per cent, respectively, over FY24-27.
ICICI Securities said that it has been a real turnaround year for Suzlon Energy, with becoming net debt free, strong execution growth of 10 per cent to 710 MW and order inflow of 3.1 GW in FY24.
Suzlon Energy Share Price Target 2024
Nuvama further said that "strong tailwinds would be a powerful growth enabler" for Suzlon Energy. It has recommended BUY rating on Suzlon Energy shares for a target price of Rs 53.
ICICI Securities has also initiated BUY coverage on Suzlon Energy shares for a price target of Rs 54 (earlier Rs 48).
Suzlon Energy Q4 Results FY2024
Suzlon Energy has reported nearly 21 per cent decline in consolidated net profit to Rs 254 crore in the March quarter (Q4FY24) mainly due to certain exceptional items. The company reported a consolidated net profit of Rs 320 crore in the year-ago period.
Total income rose to Rs 2,207.43 crore in the quarter from Rs 1,699.96 crore in the same period a year ago.
Suzlon Energy Share Price History
Suzlon Energy is a constituent of S&P BSE 500. According to BSE analytics, the power stock has delivered a positive return of 12 per cent in the last 6 months. In one year, Suzlon Energy shares have delivered a mega return of 340 per cent to its investors. In the last two and three years, Suzlon Energy shares have made its investors wealthier by 523 per cent and 742 per cent, respectively.
Suzlon Energy commands a market capitalisation of Rs 59,802.57 crore.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
