Suzlon Energy Ltd, a major player in the renewable energy sector, has long been a focal point for investors looking to ride the wave of green energy investments. While the stock has been known for its sharp ups and downs, it remains a favorite for both short-term traders and long-term investors. But how has Suzlon performed recently, and what does the future hold for this energy giant?

Stock Performance Overview

As of Friday, October 18, 2024, Suzlon Energy’s stock was trading at ₹72.32 on the NSE, marking a 0.95% decline from the previous day. This dip is part of a broader downward trend seen over the past month, where Suzlon shares have dropped by 10.52%. However, despite these short-term fluctuations, the stock has yielded remarkable returns over the long term.

Here’s a breakdown of Suzlon’s stock performance:

Past 5 Days: 2.40% decline
Last 6 Months: 75.75% return
One Year: 133.67% return
Five Years: An impressive 2,990% return
Year-to-Date (YTD): 87% return

Clearly, Suzlon has proven to be a multi-bagger stock, delivering stellar returns to long-term investors despite recent corrections.

The Latest Developments

One of the most significant developments for Suzlon came in October 2024 when the company secured a large contract from Jindal Renewables Power. Under this deal, Suzlon will supply 127 wind turbine generators, each with a capacity of 3.15 MW. This contract highlights Suzlon’s growing foothold in the renewable energy market and its potential for future growth.

Additionally, Suzlon is currently leading the race to secure another major contract from Tata Power Limited. If successful, this could further solidify the company’s market position and provide a boost to its stock.

Expert Opinions and Future Outlook

According to market experts from Lakshmi-Shri Brokerage Firm, Suzlon’s stock currently shows low volume, which is often a sign of consolidation before a potential breakout. The stock has a strong support level at ₹66, while technical charts indicate that it could soon reach a high of ₹72.5.

For those looking to invest, experts have set a target price of ₹84-86 for Suzlon, with a recommended stop loss at ₹65. Additionally, if the stock breaks past ₹85, analysts predict it could surge to ₹109 or even higher in the near future.

Why Suzlon Stands Out

Despite the volatility in its stock price, Suzlon has several factors working in its favor:

Strong Order Book: Recent contracts with Jindal Renewables Power and the potential Tata Power deal highlight Suzlon’s growing demand in the renewable energy sector.
Green Energy Focus: As the world moves towards sustainable energy solutions, Suzlon is well-positioned to benefit from this shift, thanks to its extensive portfolio of wind energy solutions.
Proven Track Record: With nearly 3,000% returns over the past five years, Suzlon has demonstrated its ability to generate wealth for long-term investors.

Final Thoughts

Suzlon Energy’s stock may have faced some short-term corrections, but its long-term growth potential remains strong. Investors looking to tap into the renewable energy boom may find Suzlon a promising bet, especially with expert target prices indicating further upside. However, like all stocks, it’s essential to approach with caution and set stop losses to manage risks effectively.

Important Data at a Glance

Metrics	Figures
Current Price (21 Oct 2024)	₹71.30
5-Day Performance	-2.40%
1-Month Performance	-10.52%
6-Month Performance	+75.75%
1-Year Performance	+133.67%
5-Year Performance	+2,990%
YTD Performance	+87%
Target Price (Experts)	₹84-86
Stop Loss (Experts)	₹65
Potential High	₹109
52-Week High	₹86.04
52-Week Low	₹30.00
Market Cap	₹96,270 Cr
P/E Ratio	110.76

By keeping an eye on these critical figures and market developments, investors can make informed decisions about whether to hold, buy, or sell Suzlon Energy stocks.