Suzlon shares target prize: Buy, Sell, or Hold, what brokerage said
Suzlon Energy reported a 7% increase in profit to Rs 324 crore in Q1, driven by inventory gains, despite a weaker operational performance. Revenue jumped 55% to Rs 3117 crore. However, the stock price fell, underperforming expectations. Motilal Oswal maintains a "BUY" rating with a target price of Rs 80, while the stock's recent performance shows a decline. The company secured significant new orders, aligning with India's renewable energy goals.
New Delhi: Suzlon shares are in the news for the disappointment that they caused on the stock exchange. The stock traded down 0.60 percent on Thursday, 14 August, to an intraday low of Rs 60.06. The shares of the company went down more than 5 percent in the last one week.
The company in its quarterly results reported a profit of Rs 324 crore, a 7 percent profit increase from the corresponding quarter of the year-ago period. The company minted a revenue of Rs 3117 crore, about a 55 percent increase from the revenue of the same quarter of the previous fiscal year, FY25. The increase in profit is generally attributed to the inventory gain of Rs 550 crore. The company did not witness strength at the operational level.
Suzlon Share Price Target
Suzlon shares have been given a "BUY" rating from the brokerage firm Motilal Oswal Financial Services. The brokerage house has given a target price of Rs 80 per equity share for the renewable energy service provider.
As per the BSE (Bombay Stock Exchange), the shares of the company have given a negative return of around 11 percent in the last one month, whereas the last one-year returns have also been negative at around 23 percent. The 52-week high of the stock is 86.04, whereas the 52-week low of the stock is Rs 46.15 on the BSE. The price-to-earnings (P/E) ratio of the company is 39.27. The market capitalisation (M-Cap) of the company stands at Rs 81,655 crore as of August 14.
Suzlon Order Book
The company has received 1000 MW of new orders in the Q1 quarter. Additionally, the company has received 5700 MW of power capacity in the reported quarter. The company had delivered 444 MW of wind power equipment in the reported quarter. The company's goals align with India's net zero ambition by producing 122 GW of power capacity from nonrenewables.
Suzlon provides its services in 17 countries and is considered the largest player in the renewable energy sector of India. The company's clientele includes conglomerates like Reliance, Tata, GAIL, and ITC.
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