Suzlon Share with company in Energy Sector, a prominent name in India’s renewable energy sector, has garnered attention with its fluctuating stock performance and recent market developments. As of October 18, 2024, Suzlon’s stock has experienced a slight decline, and several factors are influencing its movement. Below is a comprehensive breakdown of Suzlon’s current share price, market outlook, technical analysis, and factors contributing to its stock fluctuations.
Current Share Price and Market Overview
- Current Price: ₹72.32 (-0.95%)
- Previous Close: ₹73.71
- Day Range: ₹71.10 – ₹73.35
- 52-Week Range: ₹29.80 – ₹86.04
- Market Capitalization: ₹98,600 Crore
- P/E Ratio: 113.46
- Dividend Yield: N/A
As of the most recent trading session on October 18, 2024, Suzlon Energy closed at ₹72.32, reflecting a decline of 0.95% from the previous day. The stock has been oscillating within a narrow range, and key indicators show that investors are closely watching the upcoming resistance and support levels.
Suzlon Energy Share Expected Price Targets
Analysts are providing mixed predictions for Suzlon’s price targets, with some recommending a buy position based on current market sentiment.
- Target Price: Analysts suggest a target of around ₹80.
- Resistance Levels: ₹80.01 is seen as a key resistance point.
- Support Levels: Initial support is expected at ₹73.96.
Important Levels for Suzlon Energy Stock
Investors need to monitor critical levels to navigate the stock’s volatility effectively:
- Pivot Point: ₹77.28
- Resistance Levels:
- R1: ₹80.01
- R2: ₹83.33
- R3: ₹89.38
- Support Levels:
- S1: ₹73.96
- S2: ₹71.23
- S3: ₹65.18
These levels are crucial for traders, as breaking through resistance may indicate a potential rally, while dipping below support could lead to further declines.
Reasons for Suzlon Stock Movement
Several factors are contributing to the recent fluctuations in Suzlon’s share price:
- Positive Market Sentiment Towards Renewable Energy: Government policies supporting renewable energy initiatives are boosting investor confidence in companies like Suzlon.
- Strong Financial Performance: Suzlon’s annual revenue has grown by 10%, and the company reports a 16% return on equity (ROE), which has attracted attention from institutional investors.
- Order Book Growth: With over 3 GW of new orders, Suzlon’s position as a leader in wind energy is further solidified, supporting its long-term outlook.
- Debt Management: A debt-to-equity ratio of 0.04 highlights Suzlon’s ability to manage its financial obligations, reassuring investors about its financial health.
Recent News Highlights for Suzlon Energy
Suzlon has made headlines recently with significant developments:
- Acquisition Activity: Suzlon completed a 51% acquisition of Renom for ₹400 crore, a move aimed at strengthening its operational capabilities.
- Analyst Ratings: Analysts have given mixed ratings for Suzlon. While some view it as a strong buy, others urge caution due to potential market volatility.
- High Trading Volumes: Recent trading volume has been high, with over 32 million shares exchanged, indicating active participation from both retail and institutional investors.
Suzlon Energy Share Technical Analysis
From a technical perspective, Suzlon’s stock presents a mixed outlook:
- Moving Averages: Suzlon is currently trading below its 50-day moving average but remains well above the 200-day moving average, indicating long-term bullishness.
- Candlestick Patterns: A white spinning top candlestick pattern has formed recently, suggesting potential upward momentum. However, for this signal to fully materialize, the stock must break through its key resistance levels.
Summary Table
| Key Indicators | Details |
|---|---|
| Current Price | ₹72.32 (-0.95%) |
| Day Range | ₹71.10 – ₹73.35 |
| 52-Week Range | ₹29.80 – ₹86.04 |
| Market Cap | ₹98,600 Crore |
| Target Price | ₹80 |
| Pivot Point | ₹77.28 |
| Resistance Levels (R1/R2/R3) | ₹80.01 / ₹83.33 / ₹89.38 |
| Support Levels (S1/S2/S3) | ₹73.96 / ₹71.23 / ₹65.18 |
| Revenue Growth | 10% |
| Return on Equity (ROE) | 16% |
| Debt-to-Equity Ratio | 0.04 |
| Trading Volume | 32 million shares |
| Acquisition Highlight | 51% stake in Renom for ₹400 crore |
Final Thoughts
Suzlon Energy remains a focal point in India’s renewable energy sector, with its stock price reflecting the broader trends in the market. The company’s financial stability, order growth, and strategic acquisitions offer strong reasons for optimism. However, investors must carefully watch critical price levels and market sentiment, particularly with the stock approaching key resistance levels.
Disclaimer: The information provided here is based on expert analysis and does not constitute investment advice. Always consult a certified financial advisor before making investment decisions.
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