Suzlon Stock Price: Ever since Suzlon Energy announced strong results in the first quarter of FY 2024-25, brokerage houses are looking bullish on the company’s stock. JM Financial has raised the target of Suzlon Energy stock to Rs 71 while Nuvama Institutional Equities has asked investors to hold the stock and has given a target of Rs 64. The brokerage house said that it is positive on Suzlon Energy in the long term.
The company gave multibagger returns
In the trading session of Thursday, July 25, the stock of Suzlon Energy closed at Rs 61.47 with a jump of 1.24 percent. But during the day’s trade, the stock had reached a one-year high of Rs 63.75. In the last five years, Suzlon Energy has given investors a return of close to 1400 percent, 730 percent in 3 years, 860 percent in 2 years, 223 percent in one year. While in 2024, the stock has jumped 61 percent. The market cap of Suzlon Energy has reached Rs 83,840 crore.
3500 percent return in 4 years
On 26 March 2020, the stock had fallen to a low of Rs 1.70 when the company was facing a financial crisis. But in the last four years, the company has been transformed. And now the stock is trading at Rs 61.47. That is, during this period, the stock has given a return of more than 3500 percent to the investors.
Excellent quarterly results
In the first quarter results declared by Suzlon Energy, the company’s net profit has jumped by 200 percent and it has increased from Rs 101 crore to Rs 302. The order book of the company dealing in wind energy has reached 3817 MW. The company also said that it is now eligible for PSU tenders like NPTC. India has set a target of 500 GW of renewable energy by 2030, in which 100 GW will be wind energy capacity.
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