Suzlon Energy shares rise for fourth session, hit Rs 55 mark; here are fresh price targets

Shares of Suzlon Energy Ltd are trading higher for the fourth straight session on Friday. The stock has been rising since March 4 after the firm said it has won a third order of 204.75 MW from Jindal Green Wind 1 Pvt. Ltd., a subsidiary of Jindal Renewables, further accelerating the low CO2 steel revolution in India.

The multibagger stock gained 5.46% to Rs 54.98 in the current session on BSE. However, Suzlon stock is still down 27% in six months and fallen 19% in three months. Market cap of the multibagger stock climbed to Rs 74,411 crore in the current session. Suzlon Energy shares have climbed 35% in a year and gained 536% in two years.

The green energy stock saw a turnover of Rs 31.80 crore as 59.16 lakh shares changed hands on BSE today.

At the current level, Suzlon Energy shares are down 36.54% from the 52-week high of Rs 86.04 reached on September 12, 2024. The renewable energy stock slipped to a 52-week low of Rs 35.49 on March 14, 2024.

Suzlon Energy shares have a beta of 1.3, indicating very high volatility in a year.

Suzlon Energy stock is trading lower than the 50 day, 100 day, 150 day, 200 day and higher than 5 day, 10 day, 20 day, and 30 day moving averages.

Jigar S Patel from Anand Rathi said its technical analysis indicates bullishness.

"Suzlon recently rebounded from the S3 monthly Camarilla pivot, a strong support level, indicating buying interest. The stock is now sustaining above the R3 resistance, which is a bullish signal. If Suzlon holds above 53.5 for 2-3 sessions, it could confirm strength and potentially move toward the 58 level. This sustained breakout suggests increasing momentum, making it a favourable setup for further upside. Traders should watch price action closely, as holding above key resistance levels often leads to continued bullish moves. Maintaining support above Rs 53.5 is crucial for this positive outlook to remain intact," said Patel.

SMC Global Securities said, "After reaching a 52-week high in September 2024, the stock has undergone a significant correction starting in October. On a monthly basis, it fell over 16% in October 2024, followed by a 6% decline in November and nearly a 1% drop in December. The downward trend continued into January and February 2025, with losses of 7% and nearly 14%, respectively. Overall, the stock has lost 38% of its value from October to February.

This month, however, the stock has shown a sharp rebound after finding support at its 100-day exponential moving average on the weekly charts. Despite this recovery, the stock remains in a downtrend, fluctuating within a declining channel and forming a lower high pattern.

In the upcoming sessions, the stock is expected to trade in a range of Rs 46- Rs 60. A decisive break above or below this range will likely indicate the stock's next direction. Traders should closely monitor price action, as sustained movement above key resistance levels could signal a continuation of the bullish momentum. Until then, caution is advised."

Mandar Bhojane, Equity Research Analyst at Choice Broking said, "Suzlon is currently trading at Rs 56, rebounding from the lower boundary of a descending channel while forming a strong bullish candle candlestick pattern. This signals a potential reversal, supported by increasing trading volumes, indicating strong buying interest. The stock is attempting a bullish reversal from the bottom, and sustained momentum could lead to further upside movement. A decisive move above Rs 57 could confirm a bullish breakout, with the next upside target placed at Rs 65 & Rs 70. This level aligns with previous resistance, making it a key hurdle for the stock.
Traders may consider entering around Rs 56-57, with a stop-loss at Rs 50 to manage risk effectively. While the stock exhibits bullish potential, short-term volatility remains a concern. Maintaining strict risk management strategies is crucial, as any failure to sustain above key support levels could negate the bullish outlook."

A R Ramachandran, SEBI registered Independent analyst says, "Suzlon Energy is bullish on the Daily charts with strong support at 51.6. A Daily close above resistance of 55.1 could lead to a target of 62 in the near term."

Suzlon Energy reported a 91 per cent year-on-year (YoY) rise in its consolidated net profit for the December 2024 quarter (Q3 FY25). Profit rose to Rs 388 crore in the last quarter against Rs 203 crore in the year-ago period. Revenue from operations rose 91 per cent to Rs 2,969 crore in Q3 FY25 against Rs 1,553 crore in the corresponding period last year.