Suzlon share price: There are some stocks in the energy sector that have given multibagger returns to investors in the last one year. One such stock is Suzlon Energy. Suzlon’s share price has increased by more than 256 percent in one year, while in the last five years, this multibagger stock has jumped by more than 2800 percent.
However, stock market experts still seem bullish on this stock. Experts believe that the rapid reduction in debt of Suzlon Energy is expected to maintain the upward momentum in the stock. In the long term, the price of Suzlon’s stock can touch the level of ₹ 140. Let us tell you that this is a favorite stock of FIIs (Foreign Institutional Investors).
What do experts say
On the price of Suzlon stock, Ravi Singh, SVP-Retail Research, Religare Broking said- The reason for the recent rise is the revival of the renewable energy sector, especially wind energy. Apart from this, the company has reduced debt. This effort has improved financial health and technically, the stock has reached an all-time high. Sagar Shetty, Research Analyst, Stockbox said- Suzlon’s stock prices are continuously rising. Recently, Suzlon recorded impressive growth in both revenue and profit, leading to an all-time high quarterly EBITDA.
Advice to hold shares
When asked about the technical outlook for Suzlon Energy shares, Sumeet Bagadia, Executive Director, Choice Broking said- Suzlon Energy stock is currently trading at ₹ 83 and is indicating a strong rally trend. The monthly chart shows that Suzlon share price has formed a significant rounding pattern, which is a sign of potential upside ahead. Investors holding Suzlon Energy shares are advised to hold. This stock can go up to ₹ 140 levels. Investors betting on this stock for the short term can consider booking profits around ₹ 85 and ₹ 90.
Shareholding Pattern
Talking about the shareholding pattern of Suzlon Energy Limited, during the June quarter, foreign institutional investors (FIIs) held 20.63 percent stake in this company. The total stake of promoters is 13.27 percent. The total stake held by public shareholders is 86.73 percent.
