Extending its upward momentum, shares of Suzlon Energy gained another 6.6% in Monday’s intraday trade, 27 April, to hit a four-month high of ₹57.48 apiece, as the wind energy player continued to attract aggressive buying, with the Street now pointing to a combination of operational, seasonal and geopolitical triggers behind the move.
The rally has also lifted the stock’s April gains to a massive 45% and puts it on track to snap a five-month losing streak, during which it had declined 33%.
According to analysts, wind power has emerged as an unintended beneficiary of the ongoing Middle East crisis, which has tightened global energy supply and boosted the appeal of alternative energy sources.
JM Financial has described Suzlon as an “unintended beneficiary” of the ongoing Iran-US conflict. The brokerage said that in an El Nino year, peak power demand during hot and humid evenings is similar to solar-hour demand; hence, there is greater stress on supply at night when 80 GW of solar generation is unavailable.
Currently, that stress is expected to intensify further because of an 8 GW supply deficit from gas-based power in the evening due to the Middle East crisis.
Wind energy, it noted, has strong diurnal (daily) complementarity with solar, as it is available during evening hours. Also, 80% of annual wind generation occurs during the southwest monsoon period (May-September), when a power deficit is expected.
Thus, the brokerage expects the company to report a sharp uptick in commissioning in H1FY27, compared with 270 MW in H1FY26, resulting in improved cash flow and a revival in order inflows.
At the end of FY26, the company had 371 MW of sets erected and ready for commissioning, representing installations by 10%. This figure increased to 776 MW as of December 31, 2025, or 76% above installations, creating apprehensions over execution delays and fresh order inflows, the brokerage added.
The brokerage has a ‘buy’ call on the stock with a target price of ₹64 apiece, while Systematix has also has a similar target price of ₹67.
Another factor driving the stock higher is the company’s entry into Europe. Last week, Suzlon launched its 5 megawatt (MW) and 6.3 MW wind turbine models in Europe, targeting the continent’s repowering as well as new-build markets.
Institutional investors boost stake in Q4
Both foreign institutional investors (FIIs) and domestic institutional investors (DIIs) increased their stake in the company in the March quarter.
As of March-end 2026, 30 mutual funds collectively held a 4.87% stake in Suzlon Energy, equivalent to 6.68 crore shares. This marks a notable increase from 4.17% at the end of the same period last year and 4.82% in Q3FY26, according to BSE shareholding data.
FIIs, too, raised their stake during the quarter, with their collective ownership in the wind energy company increasing to 23.9% from 23.7% in the December quarter. In March 2025, their stake stood at 23%.
Meanwhile, retail ownership in the company remained largely unchanged at 55.2%, while investors holding share capital worth more than ₹2 lakh accounted for a 26.67% stake. Promoters own the remaining 11.7% stake.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
