look news india
Suzlon Energy Share Price: Shares of Suzlon Energy, a leading company in the wind turbine sector, witnessed a strong rally today. The company's share price hit an upper circuit of 5 per cent on the Bombay Stock Exchange (BSE) and bumper prices were seen.
Actually, the company has announced to buy 76 percent stake in Renoun Energy. For this, it has been announced that this share will be available for Rs 784 crore with 51 percent stake in the first phase and 25 percent stake in the second phase.
Brokerage Houses
Global brokerage firm Morgan Stanley has an overweight target of Rs 73.4 per share on Suzlon Energy shares. The brokerage firm believes that the price-to-sales is low with the planned valuation compared to other listed companies. It may be mentioned here that Renom Energy is currently present in 7 states and provides maintenance services for 14 different types of turbines.
3 out of 5 analysts covering Suzlon Energy have given a buy rating to the stock. While 2 have given a hold rating. Let us tell you here that till now in the year 2024, the share price of this company has seen an increase of 80 percent.
How was the share price in the Indian stock market today
The share price of Suzlon Energy rose by Rs 3.31 or 5 per cent to Rs 69.57.
