Last Updated:
With reduced competitive intensity, Morgan Stanley expects Suzlon’s market share to rise to 35-40 per cent by FY27
Suzlon Energy
Shares of Suzlon Energy hit a 5 per cent upper circuit at Rs 62.37 in Tuesday’s trade after brokerage firm Morgan Stanley upgraded the stock to ‘Overweight’ from ‘Equal-weight’.
Morgan Stanley stated the stock’s recent steep correction of 45 per cent from its peak as a credible opportunity for accumulation, citing Suzlon’s strong business moat and its position as a key beneficiary of India’s energy transition. The company boasts a robust 5.1GW order backlog executable over the next two years, with a prudent focus on orders with higher offtake visibility.
With reduced competitive intensity, Morgan Stanley expects Suzlon’s market share to rise to 35-40 per cent by FY27.
Suzlon’s revenue for the quarter rose 48 per cent year-on-year to Rs 2,103 crore, compared to Rs 1,421 crore in the same period last year. Net profit nearly doubled to Rs 200 crore from Rs 102 crore a year ago.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) grew 31.3 per cent to Rs 293.7 crore. However, EBITDA margins dipped slightly to 13.97 per cent from 15.74 per cent in the year-ago quarter.
Despite the correction, Suzlon Energy shares have given a return of 55 per cent since the start of the year.
Suzlon Energy stock has climbed 47.55 per cent in a year and gained 670 per cent in two years. The multi bagger stock clocked a high turnover of Rs 113.06 crore as 182.30 lakh shares changed hands on BSE in today’s session.
The stock rose to a 52-week high of Rs 86.04 on September 12 this year and fell to its 52-week low of Rs 33.83 on December 21, 2023. Suzlon Energy shares have a beta of 1.1, indicating high volatility in a year.
Shares of Suzlon Energy are trading lower than their 10-day, 20-day, 30-day, 50-day, 100-day but higher than the 5-day, 150-day and 200-day moving averages.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
