Suzlon Energy’s shares declined by 6% on Monday morning after a senior executive, Ishwar Chand Mangal, resigned from his role as CEO-New Business. Mangal, a founding member of the company since FY95-96, announced his departure on November 8, expressing a desire to pursue new challenges.
Recent Stock Performance
Suzlon shares have dropped nearly 20% in the last month, despite strong Q2 results, where net profit soared by 97% year-on-year to ₹200.2 crore. The company’s revenue from operations increased by 48% to ₹2,093 crore, and its order book reached a record high of 5.1 gigawatts, including major contracts with NTPC and Jindal Renewables.
Stock Analysis and Target Prices
- Pivot Levels: Suzlon’s resistance levels are at ₹65.28, ₹67.98, and ₹69.37, with support at ₹61.19, ₹59.8, and ₹57.1.
- Moving Averages: The stock is trading below its 5, 10, 20, 50, 100, and 300-day moving averages, indicating a bearish trend in the short term.
- Ratings and Targets:
- JM Financial has rated the stock as a “Buy” with a target price of ₹81.
- Nuvama Brokerage issued a “Hold” rating, projecting a short-term target of ₹67, noting long-term growth potential.
Impressive Long-term Returns
Suzlon has yielded substantial returns over different time frames:
- 6 months: 55.89% return
- 1 year: 66.52% return
- 5 years: 2,198.15% return
| Metric | Value |
|---|---|
| Current Price (11:03 AM) | ₹60.59 |
| Opening Price | ₹61.50 |
| Day’s High | ₹61.57 |
| Day’s Low | ₹58.56 |
| Market Cap | ₹82,710 crore |
| P/E Ratio | 85.65 |
| 52-week High | ₹86.04 |
| 52-week Low | ₹33.90 |
Suzlon’s strong growth trajectory and recent order wins suggest continued long-term potential, though short-term volatility remains
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