Why Suzlon’s share price is skyrocketing — explained

Recently the news has come on the internet that Suzlon Energy Limited’s stakes have been uttered after showing in the fresh financial year 2023- 2024. Suzlon shares bottomed out at  7.05 per level at the end of March 2023. Since then Suzlon share cost has been skyrocketing. Since the news has come on the internet and it went viral on many social networking sites. Currently, this news has been gaining huge attention from the people. Now people are very curious to know about the whole information about the news. We have more information about the news and will share it with you in this article.

Suzlon

According to the report, in the previous six months, this penny stock has turned into one of the multi-bagger stocks of Dalal Street that the Indian stock market has delivered in FY24. Stock Market experts, bulls are gambling increased on  Suzlon stakes after the company declared its deficit reduction goals. They stated that the company recently received new orders that have boosted the company’s order book and fundamentals. Currently, this news has been making the rounds on the internet. You are on the right page for more information about the news, so please read the complete article.

Why Suzlon’s share price is skyrocketing

Talking about the reason for the upgrade in Suzlon stakes, Rajesh Sinha, Senior Research Analyst, Bonanza Portfolio, stated, “Suzlon Energy share price has skyrocketed in the last 5 months and is presently at ₹8.65 on May 5, 2023. It has grown from ₹29.25 to ₹29.25, giving a 238% return. This move is majorly driven by its debt deduction plan, which recently got an important order for a wind energy project and is praised as a buy by some brokerage firms. Bonanza Portfolio expert went on to add that Suzlon Energy Ltd has enjoyed a market share of 33% in India’s domestic market. You are on the right page for more information about the news, so please read the complete article.

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Suzlon share price target

As far as we know, Anticipating more upside in Suzlon stakes, Sumeet Bagadia, Executive Director at Choice Broking stated, “Suzlon shares have been in a bull trend and it can go up 40 apiece classes in time once it breaches its current hurdle placed at 35 apiece on ending basis. He suggested Suzlon shareholders maintain the stop loss at 25 and hold for the above-mentioned marks.” Here we have shared all the information that we had. Stay tuned to us for more updates.

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Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.