Suzlon Energy Share Price On a Comeback After Recent Dip

Suzlon Energy’s shares are making it to the news again, bouncing back after a major drop. The stock, which hit a 52-week high of Rs.86.04 in September 2024, fell nearly 28% in two months but seems to be recovering. As of today, it’s trading at Rs.64.39, climbing over 4% after three days of upper circuits.

Stock Performance: Mixed Signals

On November 19, Suzlon’s stock closed at Rs.62.35, up nearly 5% from the previous day. It saw heavy trading, with a turnover of Rs.163.7 crore and 263.59 lakh shares exchanged on the BSE. While the stock trades below most short-term moving averages, it’s holding steady above its 150- and 200-day marks, showing some strength. Analysts believe Rs.55 is a strong support level, with potential resistance at Rs.66.

Q2FY25: Numbers That Impress

Suzlon’s Q2FY25 financials show growth:

• Wind turbine revenues: Jumped 72% YoY to Rs.1,507 crore.
• Maintenance services: Brought in Rs.565.5 crore, an 18% YoY rise.
• Profit after tax: Up 46% YoY at Rs.201 crore.
• EBITDA: Rose 31% YoY to Rs.294 crore.

What’s more, the company is now debt-free with Rs.1,200 crore in cash, giving it a strong balance sheet to focus on expansion.

What’s Next for Suzlon?

The company’s order book, standing at 5.1 GW, has huge demand, especially in the commercial and industrial sectors. Beyond wind turbines, Suzlon is branching out into manufacturing castings and forgings for industries like defense and railways. While these are long-term projects, orders are expected by next year.

Conclusion: Suzlon’s dip might just be an opportunity for investors. With good financial performance, a growing order book, and exciting diversification plans, Suzlon is a stock worth keeping an eye on, especially for those betting on India’s renewable energy growth.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.