300% profit in 1 year, this stock is still showing profit, see new target rate

New Delhi. On July 24, shares of Suzlon Energy rose 5 percent to a 52-week high of Rs 55.70 on the National Stock Exchange (NSE). Shares rose for a third consecutive session. Many brokerages have issued bullish calls in recent days, citing debt reduction, better working capital management and the company’s positive outlook. As a result, its shares are seeing strong buyers.

Shares of Suzlon Energy closed at Rs 54.86, up 3.4 percent on Monday. The stock has delivered spectacular returns in the past 1 year, with a 291% gain, nearly quadrupling investors’ money. Osho Krishna, Senior Analyst, Angel One said that the stock has decisively breached the 50.60 highs recently and is on track to rise further. He says that now small falls will get support at Rs 50 level. According to Osho, strong support is expected at the 48-46 level if the stock breaks below this.

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Protected from fall
“If we look at the technical parameters, the stock has come into overbought territory. Some caution is needed,” Osho Krishna said in a chat with Moneycontrol. “The sentiment on the stock is still bullish.” And if there is a shortage, it should be bought.” According to domestic brokerage Novama Institutional Equities, Suzlon Energy maintained its leadership in wind turbine generator (WTG)/turnkey EPC (engineering, procurement and construction) in the fiscal year. is expected to achieve a 61 percent PAT (Profit After Tax) CAGR in FY24-27.”

Where will the part go?
The brokerage says the company is now poised to reach its previous highs. Nuvama expects Suzlon Energy to maintain its market share of around 30 percent and show strong growth in orders. The brokerage has maintained a buy rating on it with a target price of Rs 52. Mandar Bhojne, equity research analyst at Choice Broking, said the stock could achieve a target of Rs 63 and Rs 65 in the near future.

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