Suzlon out of sizzle or more energy left? Multibagger stock to achieve Rs 50 target soon?
suzlon share price target 2024 2025: out of sizzle or more energy left? multibagger stock to achieve rs 50 target soon?
Suzlon Share Price Target 2024, 2025: Shares of renewable energy company Suzlon are in focus as the company on Thursday shared an update on group restructuring. Suzlon Energy’s board on Thursday, May 2, met to approve the scheme of merger of Suzlon Global Services (SGSL) business into the main company leading to single entity handling wind business.
While the stock opened with small gains on Friday, it declined intraday in line with the major fall in indices. Shares of the company hit an intraday low of Rs 41.25 apiece on BSE. In the last one month, Suzlon stock has slipped nearly 5 per cent, according to BSE analytics.
In the last three months, the shares have declined nearly 15 per cent. The shares have, however, delivered multibagger returns in the last one year, soaring over 400 per cent while zooming over 750 per cent in the last three years. Suzlon stock has a 52-week range of Rs 8.15 and Rs 50.72. Is the Rs 50 target once again achievable for the stock?
Suzlon Share Price Target 2024, 2025
According to Prabhudas Lilladher analyst Vaishali Parekh, Suzlon stock has been in consolidation for quite some time hovering near the moving averages of 50EMA and 100 period MA at Rs 41.50 zone with overall bias maintained positive. “The near-term support is maintained near Rs 38.50 zone.”
Parekh noted that a decisive breach above Rs 44.50 levels would indicate a breakout and thereafter, can anticipate further upward move with targets of Rs 48 and Rs 51 levels visible.
Anand Rathi Shares and Stock Brokers’ Jigar S Patel said that the stock has been showing a pattern of consolidation within the price range of Rs 41 to 42.50 in the past six trading days. “As of now, it’s positioned near the middle of that range, approximately at Rs 41.5.”
Notably, this consolidation phase is occurring above the middle Bollinger band on a daily scale, indicating a particular technical pattern. The Bollinger bands are a volatility indicator, and when the price consolidates above the middle band, it suggests potential upward momentum.
Patel added that there’s a likelihood that Suzlon might experience a breakout above the upper limit of Rs 42.50 in the upcoming trading sessions. “However, it’s advisable for investors and traders to exercise caution and refrain from making hasty decisions until Suzlon’s stock price conclusively closes above Rs 42.5 on a daily basis.”
Suzlon-SGSL Merger
The company has underscored that SGSL’s merger with itself will benefit the company on several fronts. Among these benefits listed by the company are stronger financial position, unified contracting, elimination of inter-company outstanding, efficient utilisation of the resources, streamlining of the group structure and benefit of combined resources, efficiency in business operations of the WTG (Wind Turbine Generator) business and OMS business.
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