The share is down 28 percent from its 52-week high, the brokerage said — a perfect buying opportunity.

New Delhi. Shares of Suzlon Energy have fallen sharply in two months, down 28 percent from their 52-week high. Shares of Suzlon Energy touched a 52-week high of Rs 86.04 on September 12, 2024. At the same time, it closed at Rs 62.35 on November 19, 2024 with an upper circuit of five percent on BSE. This green energy stock has hit the upper circuit for the third consecutive session. Brokerage firms Morgan Stanley and Geojet Financial have advised investors to invest in this stock.

Suzlon Energy’s market capitalization is now Rs 85,084 crore on BSE. The stock has gained 47.50% in one year and 670% in two years. Shares of Suzlon Energy have a beta of 1.1, indicating high volatility in one year. Shares of Suzlon Energy are trading below its 10-day, 20-day, 30-day, 50-day, 100-day moving averages but above its 5-day, 150-day and 200-day moving averages.

Also Read- Investors in Chutko IPOs will no longer be cheated, SEBI is giving a surefire remedy

Broker opinion
Brokerage firm Morgan Stanley upgraded Suzlon Energy Limited from its previous “equal weight” rating to an “overweight” rating in a report on Tuesday, November 19. The brokerage has set a target price of Rs 71 on Suzlon Energy shares, which is about 20% higher than the current price. Geojeet Financial has also given ‘Buy’ rating to Suzlon Energy share. The brokerage has set its target price at Rs 68.

Umya Ranadev CMT CFTE, Senior Technical Analyst at Stockbox, says Suzlon Energy stock appears to be in the oversold zone. The Relative Strength Index (RSI) is at 35, indicating the possibility of a reversal. Suzlon can be bought at current levels with a target price of Rs.72. Anand Rathi’s Jigar S Patel says Suzlon’s share is finding support at Rs 53 and a barrier at Rs 66. After crossing this barrier, it can go up to Rs 70.

(Disclaimer: The stock mentioned here is based on the advice of the brokerage houses. If you want to invest in any of them, consult a certified investment advisor first. News 18 of any profit or loss you make. will not be responsible).

Tags: business news, Money making tips, Stock market, Stock tips