Suzlon Energy shares extend fall, slip 4% today; what experts say
Suzlon: The renewable energy solutions provider recently informed bourses that the Madras High Court, in an order dated July 21, quashed an earlier directive by the Joint Commissioner of CGST and Central Excise, which had alleged excess or ineligible input tax credit in GST filings for FY20-21 to FY22-23.
- Jul 25, 2025,
- Updated Jul 25, 2025 3:27 PM IST
Shares of Suzlon Energy Ltd extended their losing streak for the third straight session on Friday, slipping 3.78 per cent to touch a low of Rs 62.84. The stock was last seen down 2.74 per cent at Rs 63.52. At this price, it has shed 2.79 per cent on a year-to-date (YTD) basis.
The renewable energy solutions provider recently informed bourses that the Madras High Court, in an order dated July 21, quashed an earlier directive by the Joint Commissioner of CGST and Central Excise, which had alleged excess or ineligible input tax credit in GST filings for FY20-21 to FY22-23.
"This is in continuation to our letter dated February 28, 2025, intimating about levying of a penalty of Rs 1,18,39,093 by the Office of the Commissioner of CGST and Central Excise, Chennai North Commissionerate, Chennai. This is to inform that a Writ Petition was filed by the Company against the said order of the Joint Commissioner of CGST and Central Excise with the Honourable High Court of Judicature at Madras and the Honourable High Court vide its order dated July 21, 2025, (received by us on July 22, 2025) has quashed the said order of the Joint Commissioner of CGST and Central Excise," it stated in a BSE filing.
Technically, the stock has support in the Rs 62–61 zone, while immediate resistance is likely around Rs 68. According to an analyst, Suzlon can be accumulated as long as it holds above Rs 61.
Drumil Vithlani, Technical Research Analyst at Bonanza, said, "Suzlon gave a breakout on weekly charts in the last week of May, backed by above-average volumes, indicating a strong bullish trend. Over the past three weeks in June, the stock experienced some profit booking, retracing toward the breakout zone. Going forward, Rs 62 is expected to act as a strong support, while resistance is placed at Rs 74. The stock can be accumulated at current levels, as long as it sustains above Rs 61."
Ravi Singh, Senior Vice-President of Retail Research at Religare Broking, noted that the stock looks technically weak and may slip further towards Rs 62 level, with immediate resistance seen at Rs 68.
Jigar S Patel, Senior Manager – Technical Research Analyst at Anand Rathi, observed that support could be seen at Rs 62 and immediate resistance at Rs 68. The near-term trading range is seen between Rs 62 and Rs 68.
Suzlon Energy is a leading renewable energy solutions provider, primarily engaged in the manufacturing of wind turbines and offering a wide array of solar energy services, including project planning, installation and asset management. As of June 2025, promoters held an 11.74 per cent stake in the company.
Shares of Suzlon Energy Ltd extended their losing streak for the third straight session on Friday, slipping 3.78 per cent to touch a low of Rs 62.84. The stock was last seen down 2.74 per cent at Rs 63.52. At this price, it has shed 2.79 per cent on a year-to-date (YTD) basis.
The renewable energy solutions provider recently informed bourses that the Madras High Court, in an order dated July 21, quashed an earlier directive by the Joint Commissioner of CGST and Central Excise, which had alleged excess or ineligible input tax credit in GST filings for FY20-21 to FY22-23.
"This is in continuation to our letter dated February 28, 2025, intimating about levying of a penalty of Rs 1,18,39,093 by the Office of the Commissioner of CGST and Central Excise, Chennai North Commissionerate, Chennai. This is to inform that a Writ Petition was filed by the Company against the said order of the Joint Commissioner of CGST and Central Excise with the Honourable High Court of Judicature at Madras and the Honourable High Court vide its order dated July 21, 2025, (received by us on July 22, 2025) has quashed the said order of the Joint Commissioner of CGST and Central Excise," it stated in a BSE filing.
Technically, the stock has support in the Rs 62–61 zone, while immediate resistance is likely around Rs 68. According to an analyst, Suzlon can be accumulated as long as it holds above Rs 61.
Drumil Vithlani, Technical Research Analyst at Bonanza, said, "Suzlon gave a breakout on weekly charts in the last week of May, backed by above-average volumes, indicating a strong bullish trend. Over the past three weeks in June, the stock experienced some profit booking, retracing toward the breakout zone. Going forward, Rs 62 is expected to act as a strong support, while resistance is placed at Rs 74. The stock can be accumulated at current levels, as long as it sustains above Rs 61."
Ravi Singh, Senior Vice-President of Retail Research at Religare Broking, noted that the stock looks technically weak and may slip further towards Rs 62 level, with immediate resistance seen at Rs 68.
Jigar S Patel, Senior Manager – Technical Research Analyst at Anand Rathi, observed that support could be seen at Rs 62 and immediate resistance at Rs 68. The near-term trading range is seen between Rs 62 and Rs 68.
Suzlon Energy is a leading renewable energy solutions provider, primarily engaged in the manufacturing of wind turbines and offering a wide array of solar energy services, including project planning, installation and asset management. As of June 2025, promoters held an 11.74 per cent stake in the company.