New Delhi. Suzlon Energy shares have fallen sharply in two months and have fallen 28% from their 52-week high. Suzlon Energy shares hit a 52-week high of Rs 86.04 on September 12, 2024. At the same time, it closed at Rs 62.35 on BSE on November 19, 2024 with an upper circuit of five percent. This green energy stock has hit the upper circuit for the third consecutive session. Brokerage firms Morgan Stanley and Geojit Financial have advised investors to invest money in this stock.
The market capitalization of Suzlon Energy now stands at Rs 85,084 crore on BSE. The stock has risen 47.50% in one year and has registered a gain of 670% in two years. The beta of Suzlon Energy shares is 1.1, which indicates high volatility in one year. Suzlon Energy shares are trading below its 10 day, 20 day, 30 day, 50 day, 100 day but above its 5 day, 150 day and 200 day moving averages.
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brokerage opinion
Brokerage firm Morgan Stanley on Tuesday, November 19 upgraded Suzlon Energy Ltd to “Overweight” from its previous rating of “Equalweight”. The brokerage has set the target price of Suzlon Energy shares at Rs 71, which is about 20 percent more than the current price. Geojit Financial has also given ‘Buy’ rating to Suzlon Energy share. The brokerage has fixed its target price at Rs 68.
Ameya Ranadive CMT CFTE, Stockbox Senior Technical Analyst Ameya Ranadive says Suzlon Energy stock appears to be in the oversold zone. The Relative Strength Index (RSI) is at 35, indicating the possibility of a reversal. Suzlon can be bought at current levels with a target price of Rs 72. Jigar S Patel of Anand Rathi says that Suzlon share is getting support at Rs 53 and an obstacle is visible at Rs 66. After crossing this hurdle it can go up to Rs 70.
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FIRST PUBLISHED: November 20, 2024, 14:17 IST