Suzlon Energy Shares Jump 5% Today; Where the Stock is Headed?
Suzlon Energy shares surged by 5.21% in Friday’s trading, reaching a high of Rs 53.90.
- Afterward, the stock partially retraced, trading 1.99% higher at Rs 52.25.
- Despite the jump, the stock has corrected by 20.03% in 2025.
The company recently updated the market on its order book size after the cancellation of two orders.
- The last reported order book as of January 28, 2025, was 5,523 MW.
- After factoring in new orders and cancellations, the current order book stands at 5,622 MW, including despatches made during Q4 FY25.
Suzlon Faces Penalty and Governance Concerns
Suzlon Energy also disclosed that its subsidiary, Suzlon Global Services Ltd (SGSL), received a penalty of Rs 7.47 lakh from the Commissioner of Customs (Imports) in Mumbai.
- The penalty was due to alleged non-payment of customs duty, which could affect investor sentiment.
- Despite this, the company’s order book remains healthy, showing positive growth.
Technical Analysis: Key Support and Resistance Levels
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, suggests that investors with a high-risk appetite should consider buying Suzlon shares, especially during market dips.
- Despite previous corporate governance issues, the renewable energy sector’s uptrend presents an opportunity for potential gains.
From a technical standpoint, key support is identified in the Rs 48-47 range.
- On the upside, resistance is expected around the Rs 54-55 levels.
- Until the stock decisively breaches these levels, the outlook is expected to remain sideways to negative.
Potential Bullish or Bearish Movements Ahead
According to Osho Krishan, Senior Analyst at Angel One, the technical structure appears weak, with support around Rs 48-47.
- However, strong resistance is expected near Rs 54-55, which could restrict the stock’s pullback.
Kunal Kamble, Senior Technical Research Analyst at Bonanza Group, highlights that a sustained move above Rs 62 could signal a bullish rally, while a fall below Rs 47 would suggest increasing selling pressure, potentially leading to a downward trend.
- Traders should closely monitor these critical levels for Suzlon’s next move.
Shareholding and Investor Sentiment
As of December 2024, promoters held 13.25% of the company’s shares, indicating some level of control over the company’s stock.
- Investors should keep an eye on future developments, including potential governance issues and changes in the renewable energy sector, to guide their investment decisions.
The overall sentiment toward Suzlon remains cautious, with both bullish and bearish scenarios on the horizon.
