Suzlon Energy Share Price Analysis: A Buying Opportunity?
Suzlon Energy’s share price has experienced significant fluctuations, paring most of its monthly gains in Friday’s stock market crash. However, it remains over 50% above its 52-week low, making it an attractive option for bottom fishing investors.
Key Highlights:
- Strong Business Growth: Suzlon Energy demonstrates robust business growth driven by record-high order book visibility and manufacturing expansion plans.
- Financial Performance: The company reported a 91% YoY revenue growth. There was a 102% rise in EBITDA. Additionally, a PAT of ₹388 crores highlights a solid turnaround.
- Renewable Energy Theme: India’s renewable targets and Suzlon’s strategic partnerships bolster its growth outlook.
Expert Opinions:
- Target Price: Analysts expect Suzlon’s share price to touch ₹70 apiece in the medium term, advising a ‘buy-on-dips’ strategy.
- Buying Opportunity: Any correction in Suzlon’s share price around ₹51 apiece levels should be seen as a buying opportunity.
- Support Zones: Provided support zones hold firm, the medium-term outlook remains bullish.
Technical Analysis:
- Resistance Level: Suzlon’s share price faces hurdles around the ₹61.50 zone, requiring a strong breakout for sustained rally.
- Long-term Structure: The long-term technical structure remains constructive, with potential for fresh buying interest around ₹51 levels.
