Both experienced and new investors must keep a watch on share prices in the volatile world of the stock markets.
Today, we’ll delve into the specifics of Suzlon share price and explore its recent trends, market performance, and significant developments. So, if you’re interested in Suzlon shares or the stock market in general, read on to gain valuable insights.
Suzlon Share Price Today
As of October 6, 2023, Suzlon’s stock price experienced a decline of -1.99%, closing at ₹29.69 per share. The current trading price stands at ₹29.1 per share. This development caught the interest of financial supporters, prompting them to keep an eye on Suzlon’s stock price in the coming months.
Suzlon Share Price Recent Performance
To understand the recent trends in Suzlon share price, let’s take a look at its performance in the last trading session. Suzlon’s shares opened at 28.65 and closed at 28.28 on the prior trading day. Today Suzlon Energy achieved a high of 29.80 and a low of 28.40.
The market capitalization of Suzlon currently stands at ₹40,301.84 crore. The 52 week high and low for Suzlon Energy are ₹28.4 and ₹6.6, respectively. The trading volume on the BSE amounted to 72,240,714 shares.
Suzlon Share Price Momentum and Technical Analysis
Suzlon has recently displayed upward momentum following a consolidation phase. Additionally, the stock has maintained a position above a crucial moving average. The relative strength index (RSI) is showing a bullish crossover and is on an upward trajectory. On the lower end, support is created at Rs 27, while resistance is found in the area of Rs 30 to Rs 32 on the higher end.
Suzlon Share Price Promoters’ Pledge Release
In a recent development, Suzlon’s promoters released a pledge on 97.1 crore shares through SBICAP Trustee Company Ltd. This release amounts to 7.1% of Total equity. The pledged shares were released on September 28th, as per the company’s statement. Based on the shareholding pattern reported on August 14th, the promoters held a 13.3% stake in the company, equating to nearly 180 crore shares. Of this stake, approximately 81% or 146 crore shares were pledged.
Key Events Impacting Suzlon Shares
Suzlon’s stock reached an eight-year high, representing a gain of more than 150% in 2023.
This impressive performance garnered attention in the market. Notably, last week, Dilip Shanghvi and Associates decided to terminate the amended and restated shareholders’ agreement signed in February 2020. However, Suzlon clarified that this termination would not affect the company’s operations.
Recent Developments in Suzlon Share
Let’s also take a look at some noteworthy recent developments concerning Suzlon shares:
Suzlon won three awards at the 3rd Annual 2019 IDC Digital Transformation Awards (Dxa).
The company successfully commissioned a wind project for HAL.
Suzlon Energy Limited initiated a Rs 1,200 Crore Rights Issue.
Suzlon secured an order for 144.9 MW from The Aditya Birla Group.
An order for a 48.3 MW wind power project from Adani Green was secured.
Suzlon Energy Limited announced a new order for the development of a 180.6 MW wind power project for Sembcorp’s renewables subsidiary, Green Infra Wind Energy Limited.
Suzlon Share Price Market Sentiment and Analyst Views
Recent market sentiment suggests that Suzlon Energy shares have hit a fresh 52-week high, even amid weaker market conditions. The stock witnessed a 4.95% rise, reaching a 52-week high of Rs 28.39. This remarkable performance is a positive sign for investors. Suzlon Energy’s market capitalization has risen to Rs 38,304 crore. The stock’s beta of 1.8 indicates high volatility.
Abhijeet from Tips2trades noted that Suzlon Energy shares appear bullish on daily charts. A close above the resistance level of Rs 27 could lead to a target of Rs 30.5 in the near term. Strong support is expected at Rs 25. Aditya Gaggar, Director of Progressive Shares, highlighted Suzlon’s impressive run-up and a potential target of Rs 39.35 based on technical analysis.
In terms of technical indicators, Suzlon Energy stock’s relative strength index (RSI) stands at 68.9, indicating that it is currently neither overbought nor oversold. Additionally, the stock is trading above various moving averages 100-day, and 200-day moving averages.
Suzlon Share Price Business Overview
Before we conclude, let’s take a closer look at Suzlon Energy’s business:
India, which has the fifth-greatest breeze energy market on the planet, is home to Suzlon Energy, a significant forerunner in the business.
The 1995-founded business is present on all seven continents and employs over 13,000 employees in 14 nations.
Suzlon’s business model encompasses development, manufacturing, marketing, EPC project delivery, and operations and maintenance of wind turbine generators worldwide. Within a mere ten years’ time, Suzlon had successfully installed upwards of three thousand megawatts of wind turbine capability on global ventures, propelling their status as one of Asia’s most rapidly developing fully integrated wind forces in the field.
Suzlon’s Product Range
In order to address the increasing demand for wind energy throughout the world, Suzlon is renowned for offering complete wind power solutions.
The company’s product profile includes wind turbine generators with capacities ranging from 350 kW to 2.1 MW. Notably, Suzlon manufactures the largest wind turbine from Asia. The S52 – 600 kW and S82 – 1.50 MW wind turbines are part of Suzlon’s product lineup, catering to different investor profiles and offering high performance and reliability.
Suzlon has established a reputation for offering premium items at affordable pricing.
The company’s order book reflects its strong position in the market, with domestic orders totaling 441 MW and international orders for 3,726 MW. In India, Suzlon serves leading corporate houses such as MSPL, Bajaj Auto, Tata Group, and Reliance, among others. Furthermore, Suzlon has signed contracts with top wind energy companies globally.
Conclusion of Suzlon Share Price
In conclusion, Suzlon share price is a topic of significant interest in the stock market due to its recent performance and notable developments. Investors and analysts continue to monitor Suzlon closely, expecting further movements in its stock price. As Suzlon Energy maintains its leadership in the Indian wind energy sector and expands its global presence, it remains a key player in the renewable energy landscape.
Disclaimer: The information in this “Stock Profile” blog post is for informational purposes only. It is not financial advice. Always consult a qualified expert before making investment decisions.