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Shares of Suzlon Energy closed at 5 percent circuit in the first trading session of the new year 2025 (January 1), but profit booking was seen in the next trading session (January 2). After this, today (3 January) Suzlon shares fell by 1.50 per cent to Rs 61.82. However, brokerage houses are maintaining a positive attitude towards this stock and are advising to buy it. Recently, CRISIL Ratings upgraded its credit rating to ‘CRISIL A’ and issued a positive outlook. The report also highlights the company’s strong performance and improved profitability.
Position of company’s shares
Over the past few years, Suzlon shares have given excellent returns. The company’s shares have risen 65% in the last one year, while they have risen 2400% in the last five years. On January 3, 2020, the price of this share was only Rs 2.48. The company’s 52-week highest price has been Rs 86.04 and lowest price has been Rs 35.49. Currently the market capitalization of the company is Rs 84,558.85 crore. According to BSE data, Suzlon shares have given a handsome return of 63% in the last one year, while in the last two and three years the renewable energy stock has given returns of 477% and 524% respectively.
target price
According to Sachin Gupta of brokerage 5paisa, Suzlon Energy shares are currently trading within a range. These stocks are facing resistance in the range of Rs 68 to Rs 70, while on the downside, their support lies in the range of Rs 58 to Rs 60. He said, “My recommendation on Suzlon Energy shares is to keep it with a stop loss of Rs 57. In the near future, the target for Suzlon Energy stock could be Rs 70-72. Once the shares overcome the resistance in this range, a review is suggested. “The next target could be Rs 78-80.”