Suzlon Energy shares rise 2,800% since Coronavirus crash, here are fresh price targets

Suzlon Energy shares have risen 2,826% since the Coronavirus crash on March 23, 2020. Five years ago, Sensex and Nifty tumbled to their lowest levels since 2016 as coronavirus-led lockdowns across the world triggered fears of a recession. Since then, the indices have rebounded over 150%.

Meanwhile, the penny stock priced at Rs 1.93 on March 20, 2020 fell to Rs 1.85 on March 23 that year. Since, then the stock has turned into a multibagger, closing at Rs 56.49 in the previous session on BSE.

In the last one year, the stock has gained 54% and risen 660% in two years. The stock climbed 574% in three years. 

In the current session, the multibagger stock gained 1.56% to Rs 57.37 on BSE. However, Suzlon stock has lost 31% in six months and fallen 11.37% in three months. Market cap of the multibagger stock climbed to Rs 78,369 crore in the current session. 

The green energy stock saw a turnover of Rs 12.90 crore as 22.36 lakh shares changed hands on BSE today. 

At the current level, Suzlon Energy shares are down 33.30% 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 36.55 on March 22, 2024.

Suzlon Energy shares have a beta of 1.2, indicating very high volatility in a year. 

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

Jigar S Patel from Anand Rathi said, "Support will be at Rs 56 and resistance at Rs 60. A decisive move above the Rs 60 level may trigger a further upside to Rs 63 . The expected trading range will be 
between Rs 56 and Rs 60 in the short-term." 

AR Ramachandran, SEBI registered Independent analyst says, "Suzlon Energy is bearish on the Daily charts with strong resistance at Rs 59.4. A Daily close below the support of Rs 55 could lead to a target of Rs 48 in the near term."

JM Financial has reduced its price target on the Suzlon Energy stock from Rs 80 to Rs 71. 

"The manufacturing capacity of the company will increase from 3.15GW to 4.5GW, taking together capacities at both Daman and Pondicherry plants. We maintain our BUY rating on the stock with a TP of INR 71 (from INR 80 earlier), moderating P/E multiple from 40xDec’26 to 35xMar’27 given execution challenges constraining growth beyond FY27 and roll forwarding our EPS from Dec’26 to Mar’27," said JM Financial.  

Suzlon Energy clocked a 91 per cent year-on-year (YoY) rise in its consolidated net profit for the December 2024 quarter (Q3 FY25). Profit climbed 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.