Suzlon Energy shares jump 6%; analysts see further upside: Key levels to watch

Shares of Suzlon Energy Ltd recorded a strong uptick in Monday's trade, surging 3 per cent to hit a high of Rs 65.94. The stock was last seen up 3.07 per cent at Rs 64.12. At this price, it has climbed 10.92 per cent in a month. The renewable energy player is slated to declare its January-March quarter (Q4 FY25) results on May 29.

Analysts largely stayed positive on Suzlon Energy shares, noting that a decisive close above the Rs 66 mark could trigger further upside potential in the near term.

Gaurav Sharma of Globe Capital said Suzlon looked good at current levels after a reasonable consolidation in the Rs 60-50 range. "The stock has finally managed to break above the said level. I believe it can head towards Rs 70 level and beyond in the next couple of months. One can consider the counter for fresh entry and any dips should be used for adding more positions," he told Business Today.

Jigar S Patel, Senior Manager (Technical Research Analyst at Anand Rathi), said, "For Suzlon, support will be at Rs 62 and resistance at Rs 66. A decisive move above Rs 66 level may trigger a further upside towards Rs 70. The expected trading range will be between Rs 60 and Rs 70 for the short term."

Ajit Mishra – SVP (Research) at Religare Broking, said, "The stock has formed a base around the Rs 46 level. Participants can consider accumulating fresh positions, with a closing stop loss at Rs 56, targeting an upside potential of Rs 68–72 levels."

Om Mehra, Technical Research Analyst at SAMCO Securities, suggested that immediate support for the counter is placed around Rs 57, with a strong base near Rs 53. "A breakout and close above Rs 63 level could offer a fresh opportunity with an upside potential of 10-15 per cent. Risk should be managed with a stop-loss below Rs 56 on a closing basis," he stated.

Technically, the scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-day and 150-day simple moving averages (SMAs) but lower than the 200-day simple moving average (SMA). Its 14-day relative strength index (RSI) came at 67.03. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the stock has a price-to-earnings (P/E) ratio of 183.57 against a price-to-book (P/B) value of 22.54. Earnings per share (EPS) stood at 0.35 with a return on equity (RoE) of 12.36. According to Trendlyne data, Suzlon has a one-year beta of 1.3, indicating high volatility.

Suzlon Energy is a renewable energy solutions provider and produces wind turbines. It offers a range of solar energy solutions, such as solar irradiance assessment, land acquisition and approvals, infrastructure and power evacuation, supply chain, installation and commission and life cycle asset management. As of March 2025, promoters held a 13.25 per cent stake in the company.