Shares of Suzlon Energy gained 2.5% in early trade on Monday, December 08, to reach the day’s high of ₹53 apiece after domestic brokerage firm Motilal Oswal retained its ‘Buy’ recommendation on the stock with a target price of ₹74 apiece, indicating an upside potential of 40% from the stock’s previous closing price.
The shares have remained under pressure in recent months due to multiple concerns, including a slowdown in installations, which have lagged deliveries in recent quarters, along with a tepid FY26 year-to-date new order inflow that dragged the stock down 29% from the August highs.
However, the company, during its manufacturing day held on December 4 and 5, said it sees a limited impact on near-term order flows from the slowdown in central renewables, stating that nearly 15 GW of wind orders remain in the bidding or awarding stage.
Management remains confident that India can reach 10 GW of annual wind installations by FY28 (vs. a 6.5–7 GW run rate in FY26). Growing demand from AI/data centers and rising C&I load represent an upside potential to India’s 100 GW wind target by 2030.
The company plans to expand capacity through three new Smartblade factories, two in Gujarat and Karnataka, and a third location to be finalized in 2 to 3 months, to shorten turnaround time, improve customer and site proximity, and enhance logistics and transportation efficiency.
Earlier, Geojit Financial Services upgraded the stock to ‘Buy’ but trimmed its target price to ₹75, while ICICI Securities also retained its ‘Buy’ call on the stock with a target price of ₹76, expecting the order pipeline to remain strong over the next 2–3 years.
Suzlon Energy share price trend
Although the stock has remained under pressure in recent months, its long-term performance still looks solid, as it continues to trade with 440% returns over the last two years and a 1,400% gain over the last five years. Between April 2023 and September 2024, the stock witnessed a one-way rally, gaining 912%, which also led the stock to reach ₹86, the highest level since 2010.
Retail shareholders own the majority stake of 55.4% in the company as of the end of the September quarter, followed by FIIs and promoters, who held 22.7% and 11.7% stakes, respectively. DIIs also own a 10.1% stake in Suzlon Energy.
Disclaimer: This story is for educational purposes only. 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.
