Last updated on August 7th, 2024 at 06:11 pm
Expert Predictions for Suzlon Energy: Significant Drop in Weekly Closing- The stock market faced a significant shock on the last trading day of the week. The decline in Sensex and Nifty 50 has raised concerns about a potential major drop in the stock market.
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Not only did Sensex and Nifty 50 see declines at the end of the week, but major energy companies like Adani Green Energy also closed lower. However, Suzlon Energy‘s stock closed with a gain of more than four percent.
Expert Predictions for Suzlon Energy
Surge in Suzlon Energy Stock
Suzlon’s shares fell more than 4% to close at ₹67.98 on August 1. However, on the weekly closing day, August 2, the stock opened at ₹67.30. Within a few minutes of opening, by 9:25 AM, the stock had reached ₹70.56.
Although there was a slight decline afterwards, with the stock dropping to ₹69.40, it soon recovered significantly, closing at ₹71.37. This price is also the 52-week high for the stock. This rise indicates a 4.99% increase from opening to closing.
Also Read: What is the Next Target of IREDA and NTPC? Expert Opinions and Key Information
Market Experts’ Opinion on Suzlon Energy
Recently, Suzlon Energy’s stock has seen a rise. Market experts and brokerage firms have shared their views on this. Nuama Institutional Equities had set a target price of ₹64 for Suzlon Energy, which has already been achieved. Nuama mentioned that with an annual capacity of 2 gigawatts, the company is well-positioned to meet the demand for leading EPC and repowering, aiding future expansion.
Historical Decline in Suzlon Energy
July was a good month for Suzlon Energy, with the stock increasing by more than 30%. However, a decline is expected in August. Over the past 18 years, the stock has underperformed in August for 14 years. Stock market expert Sachit Anand Uttarkar mentioned in a media interaction that Suzlon’s stock has shown a decline in August over the past few years. In 2011, the stock fell by more than 30% in August, but this decline has reduced in the last two to three years.
Warning from National Stock Exchange to Suzlon Energy
Sachit Anand Uttarkar revealed on CNBC Awaaz that the National Stock Exchange issued a warning letter to Suzlon Energy for violating regulations. This news could put pressure on the stock.
Performance of Suzlon Energy’s Stock
| Time Period | Performance (%) |
|---|---|
| 5 Years | 1480.24% |
| 3 Years | 953.49% |
| 1 Year | 243.89% |
| 6 Months | 46.85% |
| 3 Months | 71.1% |
| 1 Month | 34.55% |
| Last 5 Days | 13.86% |
- Market Cap: ₹91,959.39 crore
- Share Price: ₹71.37
- 52-Week High: ₹71.37
- 52-Week Low: ₹17.70
Future of Suzlon Energy
The future of Suzlon Energy is filled with uncertainties. Although the company has performed well recently, the potential decline in August and the warning from the National Stock Exchange mean investors should remain cautious.
Also Read: These 3 Green Energy Stocks Under 25 are Delivering Impressive Returns
Key Points
- Significant drop in weekly closing
- 4.99% increase in Suzlon Energy’s stock
- Positive opinions from market experts
- Expected decline in August
- Warning from the National Stock Exchange
Thus, Suzlon Energy’s performance will depend on several critical factors, helping investors make informed decisions.
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