Suzlon Energy shares hit fresh 52-week high, gain for third straight session 

Shares of Suzlon Energy hit their fresh 52 week high, rising for the third straight session today. Suzlon Energy stock hit a fresh high of Rs 86.04 against the previous close of Rs 81.05 on BSE. 
It surpassed its earlier high of Rs 84.40 reached on August 13 this year. 

The fresh high comes after the multibagger stock closed 5% higher while hitting upper circuit of 5% in the previous two sessions. 

Market cap of the green energy firm climbed to Rs 1.14 lakh crore on BSE. Suzlon Energy stock has climbed 266% in a year and gained 827% in two years.

The multibagger stock clocked a high turnover of Rs 110 crore as 129.35 lakh shares changed hands on BSE in today’s session. Suzlon Energy shares fell to their 52-week low of Rs 21.71 on September 13, 2023. Suzlon Energy shares have a beta of 0.9, indicating low volatility in a year.

Shares of Suzlon Energy are trading above their 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages. This implies the stock has been in bullish zone in all time periods. 

Market expert Raghvendra Singh expects the stock to hit a tarpet of Rs 100 in the short term. 

"Suzlon has been in focus for the past six to eight months. The stock has given an uptrend again. If it breaks above Rs 80-82 levels then the counter can rise further. It is expected to touch Rs 100 level in the near term," he told BTTV. 

Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas is bullish on prospects of the stock. 

Last two-weeks' price action signals formationn of a bullish flag pattern in the consolidation phase. The ongoing upward momentum can continue, Gedia told Business Today TV. 

The stock can reach an upside target of Rs 100 in the near term. Stop loss can be fixed at Rs 78, added Gedia. 

Suzlon Energy is a provider of renewable energy solutions. The company is a producer of wind turbines. It offers a range of solar energy solutions, such as solar irradiance assessment, land acquisition and approvals, infrastructure and power evacuation, supply chain, installation and commission and life cycle asset management.