Mumbai, India – November 13, 2023 – Suzlon Energy Limited (NSE: SUZL), India’s leading wind power company, saw its share price rise 1.42% on Monday, November 13, 2023. The stock closed at ₹37.98 per share, up from ₹37.30 per share on the previous day.
The rise in Suzlon Share Price was driven by a number of factors, including:
- Strong demand for wind power in India: India is one of the fastest-growing wind power markets in the world. The country’s installed wind power capacity is expected to reach 100 gigawatts by 2025.
- Improved financial performance: Suzlon reported strong financial results for the quarter ending September 30, 2023. The company’s net profit increased by 102% year-over-year.
- Positive investor sentiment: Overall investor sentiment towards the Indian stock market is positive. The benchmark Sensex index rose 0.7% on Monday.
Suzlon Share Price has been on a tear in recent months. The stock has gained over 260% in the past six months. The company’s strong financial performance and the growing demand for wind power in India are likely to continue to support the stock in the near term.
Analysts at LK Securities have a “Buy” rating on Suzlon shares. The analysts believe that the company is well-positioned to benefit from the growing demand for wind power in India.
“Suzlon is one of the leading wind power companies in India,” said LK Securities analyst Akash Sharma. “The company has a strong track record of execution and a diversified portfolio of projects. We believe that Suzlon is well-positioned to benefit from the growing demand for wind power in India.”
The analysts at ICICI Securities also have a “Buy” rating on Suzlon’s shares. The analysts believe that the company is undervalued compared to its peers.
“Suzlon is trading at a discount to its peers despite its strong financial performance,” said ICICI Securities analyst Rahul Jain. “We believe that the stock is undervalued and offers good upside potential.”
Overall, analysts are bullish on Suzlon’s share price. The company is well-positioned to benefit from the growing demand for wind power in India.