On Tuesday, shares of Suzlon Energy jumped to a 5% upper circuit. On the Bombay Stock Exchange, Suzlon Energy’s shares were up 5% at Rs 62.37 at 1:20 pm. The stock was raised from “Equal-weight” to “Overweight” by Morgan Stanley, which caused the share price to soar. Although the brokerage changed its target price for the renewable energy player from Rs 78 to Rs 71, it has emphasized the stock’s sharp drop as a buying opportunity.
Suzlon Energy Q2 Results
Suzlon Energy’s consolidated net profit in Q2 FY25 increased by 96% to Rs 201 crore from Rs 102 crore in the same quarter last year. The company’s operating revenue for the quarter was Rs 2,093 crore, which was 48% more than the Rs 1,417 crore recorded in the same quarter of the prior fiscal year. In the reported quarter, the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) were Rs 294 crore, up from Rs 225 crore in the same period last year. On a YoY basis, it was 31% higher. In Q2FY25, however, the EBITDA margin decreased.
Suzlon Energy Share Price
The NSE saw a 5% increase in Suzlon Energy’s shares during the day, reaching an upper circuit of Rs 62.2 per share. As of 10:26 a.m., the benchmark Nifty 50 had advanced by 1.18%. It has increased by 62% so far this year and by 50% over the past 12 months. The day’s total trading volume was 2.9 times higher than the 30-day average. The index of relative strength was 42.
About Suzlon Energy
Suzlon is one of the top suppliers of renewable energy solutions worldwide. The manufacturer is a vertically integrated WTG company. It also handles O&M and installation for all WTG sales. The design, development, and production of all major components, including as rotor blades, generators, gears, nacelles, control equipment, and tubular towers, are included in operations. It provides a wide range of wind project planning and execution services, including technical planning and wind power project execution, infrastructure and power evacuation, and wind resource evaluation, in addition to manufacturing. Additionally, it provides O&M services in India and other nations.
