Motilal Oswal Financial Services has reiterated its bullish stance on Suzlon Energy, projecting a 24 percent upside in the stock from current levels.
In a recent note, the domestic brokerage firm maintained its ‘buy’ rating on Suzlon Energy with a price target of Rs 82 per share.
Shares of Suzlon have gained over 24 percent in the past three months, according to data available on BSE Analytics.
About a month ago, global and domestic investors including Goldman Sachs, Morgan Stanley, Motilal Oswal Mutual Fund, and Societe Generale acquired 19.81 crore equity shares—representing 1.45 percent stake—in Suzlon Energy for Rs 1,309 crore via open market transactions from promoter entities.
For the March quarter, Suzlon reported a nearly five-fold jump in consolidated net profit to Rs 1,181 crore, up from Rs 254 crore a year earlier, supported by higher revenues. Its total income rose to Rs 3,825.19 crore from Rs 2,207.43 crore during the same period, as per a BSE filing.
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