Shares of Suzlon Energy traded at Rs. Hit the upper circuit of 5 percent at 62.37.
Morgan Stanley cited Suzlon’s strong business moot and its position as a key beneficiary of India’s energy transition, citing the stock’s recent sharp 45 percent correction as a credible opportunity for accumulation. The company has an order backlog of 5.1GW executable over the next two years, with a prudent focus on orders with high offtake visibility.
With reduced competitive intensity, Morgan Stanley expects Suzlon’s market share to increase to 35-40 percent by FY27.
Suzlon’s revenue in the quarter rose 48 percent year-on-year to Rs. 2,103 crores, which is Rs. 1,421 crores. Net profit a year ago was Rs. 102 crore almost doubled to Rs. 200 crores.
Earnings before interest, tax, depreciation and amortization (EBITDA) increased by 31.3 percent to Rs. 293.7 crores. However, EBITDA margin declined marginally to 13.97 percent from 15.74 percent in the year-ago quarter.
Despite the correction, Suzlon Energy shares have returned 55 per cent year-to-date.
Suzlon Energy’s stock has gained 47.55 percent in one year and 670 percent in two years. Multi Bagger Stock Rs. 113.06 crore had a high turnover as 182.30 lakh shares changed hands on BSE in today’s session.
On September 12 this year, the stock rose to Rs. 86.04 and touched a 52-week high of Rs.21,2023 on December 21, 2023. It touched a 52-week low of 33.83. Suzlon Energy shares have a beta of 1.1, indicating high volatility in one year.
Shares of Suzlon Energy are trading lower than their 10-day, 20-day, 30-day, 50-day, 100-day but higher than their 5-day, 150-day and 200-day moving averages.
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