Suzlon shares price target for 2024 and 2025
Suzlon shares on Monday, reached a 5 percent upper circuit limit during intraday trading. This spike brought the firm’s market capitalization up to Rs 90,269.83 crore. Suzlon Energy has been in focus, notably for the substantial returns provided to its investors.
As per data from BSE analytics, the stock of Suzlon has appreciated by 39 percent over the past six months and 72 percent in 2024 so far. Over the last year alone, the shares have increased by 67 percent. The performance over the past two years has seen the stock rise by an impressive 600 percent, with a staggering 917 percent increase over the past three years.
Is the 5 percent surge in Suzlon shares on Monday a sign of more gains to come? What insights do market analysts have, and should investors consider purchasing the shares at this time?
Suzlon Share Price Target 2024, 2025The shares of this BSE 200 company are attracting the attention of market watchers due to their significant fluctuations in the past. In the last two years, Suzlon’s stock climbed from around Rs 9 to a peak of Rs 86 in September this year. Is it advisable for investors to buy now, or is there still potential for further advances?
Currently, Suzlon’s stock is trading in a constrained market environment, with well-established support and resistance levels. Jigar S Patel from Anand Rathi Shares and Stock Brokers mentioned, “The support level at Rs 62.5 is crucial, likely attracting buying interest and preventing further drops.”
On the higher end, the analyst identifies resistance at Rs 68.35, a point that has historically impeded further upward movement. A significant breakthrough beyond this level could initiate a bullish trend, possibly advancing the stock towards the next target of Rs 73, Patel added.
“This indicates a hopeful perspective if the resistance is surpassed. In the short term, the stock is likely to fluctuate within a range of 62.5 to 73, making these levels essential for traders to watch.” For short-term investors, the expert advised accumulating shares near the support level and realizing profits near resistance.
Ajit Mishra from Religare Broking noted that a consistent close above Rs 67 could propel the stock into the Rs 72-76 range shortly. “On the downside, support is anticipated in the 59-62 area in the event of a pullback.”
Moreover, Morgan Stanley, a prominent brokerage firm, expressed a positive outlook on Suzlon Energy last month, upgrading its rating from Equal-weight to Overweight. They mentioned that the company possesses a robust business advantage and is likely to benefit from India’s energy transition.
Stay tuned for more updates and insights on the stock market!
For more insights on investing in the Indian stock market, check out resources like Moneycontrol and NSE India.
Disclaimer:
The content on this blog is for informational and educational purposes only. It should not be considered as investment advice or a recommendation to buy, sell, or hold any security or financial instrument.
Narayan Ventures and its authors, contributors, and affiliates do not provide personalized investment advice or recommendations. The views and opinions expressed on this blog are those of the authors and do not necessarily reflect the views or opinions of Narayan Ventures or its affiliates.
Investing in the stock market involves risks, and there are no guarantees of returns. Before making any investment decisions, you should conduct your own research, consider your financial situation, investment goals, and risk tolerance, and consult with a financial advisor or investment professional if necessary.
Narayan Ventures and its authors, contributors, and affiliates shall not be liable for any losses or damages arising from the use of the information on this blog. By using this blog, you acknowledge that you have read, understood, and agreed to these terms and conditions.