Suzlon Energy Share Price can go to this level, Know why ?

Suzlon Energy shares are currently under continuous focus. The company’s shares rose by up to 5% on Friday, closing at INR 22.55. In the past six months, these shares have surged by 175%. The momentum in the shares is due to the consecutive influx of orders. It’s worth mentioning that the company has secured two significant orders this week. Brokers are also bullish on Suzlon Energy’s shares and are recommending purchasing them. Notably, JM Financial has given a ‘Buy’ rating to these shares. Coverage for Suzlon Energy shares has been initiated with a target of INR 30 per share by September 2024, based on 25 times the earnings per share (EPS) of September 2025.

Suzlon Energy Share Order Details:

The company has received a 201.6-megawatt order from O2 Power Private Limited. Suzlon Energy stated that it will install its 64 largest Wind Turbine Generators (WUTGs) along with Hybrid Lattice Tubular (HLT) towers, and each will have a rated capacity of 3.15 megawatts for the 201.6-megawatt wind energy project. The project is expected to be operational by 2025. Furthermore, Suzlon Group has secured a contract for a 31.5-megawatt wind energy project from Integram Energy Infrastructure Limited. According to a statement issued by the company, “Suzlon Group announces receiving a contract for a 31.5-megawatt wind energy project from Integram Energy Infrastructure Private Limited.” The project is expected to commence in May 2024.

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Suzlon Energy Share Q1 Results:

Suzlon Energy’s consolidated net profit for the April-June quarter of the current financial year decreased by 96% to INR 101 crore. This information has been derived from the company’s presentation to investors. In the same quarter of the previous year, the company had achieved a consolidated net profit of INR 2,433 crore. The company’s net revenue for the first quarter of the current financial year also decreased from INR 1,378 crore to INR 1,348 crore compared to the previous year. Girish Tanti, Vice Chairman of Suzlon Group, stated, “The country is prepared to make its economy carbon-neutral. We are observing the corporate world with enthusiasm for this green energy transformation.”