Suzlon Energy’s shares can give good profits in the coming time, know the complete details of the new order.

There was a huge jump in the shares of this Suzlon Energy company

Suzlon Energy, a leading wind turbine manufacturer in India, reported a remarkable 96% increase in profits for the September quarter, capturing the attention of many investors. This surge has led to a significant rise in Suzlon’s shares, with many investors capitalizing on the trend.

However, some investors have begun to book their profits, resulting in a recent decline in stock prices. Suzlon shares closed 2.75% lower at ₹68.90 on the BSE, after peaking at ₹73.50 a day earlier and dipping to ₹66.87.

Suzlon performance and September quarter results

On October 31, 2022, Suzlon shares were valued at ₹30.11, reaching a one-year high of ₹86.04 by September 12, 2023. The September quarter proved highly successful for the company, with net profits soaring to ₹201 crore and total revenue increasing by 48% to ₹2,093 crore. Although the EBITDA margin fell slightly, the order book reached a record 5.1 GW, including a significant order from NTPC.

Brokerage opinion

Nuvama Institutional Equities has expressed a mixed outlook on Suzlon’s recent performance. The company completed 254 MW in the September quarter, falling short of its 275 MW target due to monsoon impacts. Despite lower operating margins and a net profit that was 30% below expectations, Suzlon’s new orders of 1.6 GW bolster its future revenue prospects, maintaining a “Hold” rating with a target price of ₹67.