Suzlon Energy shares rise 4% on new order win, Nuvama initiates coverage with 'buy' rating

Suzlon Energy shares have rallied more than 20 percent since the start of the year.

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26 Aug, 2025 12:21

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Shares of Suzlon Energy Limited were trading over 4 percent higher at Rs 46 apiece in the afternoon on May 29 buoyed by a 551.25-megawatt wind power project for the Aditya Birla Group in Gujarat and Rajasthan and Nuvama initiating coverage with a 'buy' call on the counter citing positive growth prospects.

The renewable energy major will install 175 wind turbine generators and execute the project, including erection and commissioning, in Rajasthan, and supply, supervise, and commission the project in Gujarat. Suzlon will also undertake comprehensive operations and maintenance services post-commissioning at both sites.

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With a buy call, Nuvama has assigned a price target of Rs 53. That's an upside of over 20 percent from the current levels. The brokerage said that strong industry tailwinds are a powerful growth enable. Suzlon also possesses the ability to sustain its lead in turnkey engineering, procurement and construction business. "We expect an order book and profit after tax Compound Annual Growth Rate (CAGR) of 21 percent and 61 percent respectively over FY24-27," said Nuvama.

Suzlon also got a target price upgrade from ICICI Securities as analysts believe that it has been a real turnaround year for the company, with becoming net debt free, strong execution growth of 10 percent to 710MW and order inflow of 3.1GW in FY24.

Even as the firm reported subdued earnings for the quarter ended March 2024, the brokerage retained a 'buy' rating on the stock and raised the target price to Rs 54 from Rs 48 earlier.

At about 1:27 pm, Suzlon shares were trading at Rs 46, up 4.5 percent from the previous close on the NSE. Suzlon Energy shares have rallied more than 20 percent since the start of the year.

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