Suzlon Energy Share is a favorite name in India’s renewable energy sector. The stock prices of the company have sharply dropped in the past two trading sessions. This makes investors worried as it slipped almost Rs 50 mark. What are the predictions by experts, Let’s find out.
Suzlon Share Price in the Market
Recently Suzlon Energy Shares have fallen by 9.25% in two days. The current price is Rs 49.71. The stock price is trading below its key moving averages, including the 5-day, 10-day, and 200-day averages, this signals bearish momentum.
Company Financials
Although share prices have seen a dip recently Suzlon Energy has strong financial performances in the last quarter ended in December 2024. In Q3 the company have reported 91% year-on-year growth of Rs 388 Crore. Which is supported by a silimar upward trend in revenue to Rs 2969 Crore. However, its high price-to-earnings (P/E) ratio of 142.77 and a return on equity (RoE) of 12.36 indicate that the stock may be overvalued at current levels.
Recent News about Suzlon Energy
The company has recently faced an Rs 1.18 crore worth penalty from tax authority. This was for discrepancies in GST input credits for FY 2020-21 to FY 2022-23. Suzlon said it will not impact operations, but investors are concerned over this.
On the other hand, Suzlon continues to maintain a strong order book and is expanding its manufacturing capabilities to meet the growing demand for renewable energy solutions.
Recommendation on Buy or Sell
Though analysts remain cautious about Suzlon Energy Shares near term prospects, technical indicators suggest strong resistance at Rs 55. There is a support level at Rs 47-Rs 49 as well. According to Moneycontrol website 75% out of 8 analysts suggest ‘Buy’ for Suzlon Shares.
