Suzlon Energy shares jump 5% today; where the stock is headed?

Shares of Suzlon Energy Ltd surged 5.21 per cent in Friday's trade to hit a high of Rs 53.90. Last checked, the stock erased a major chunk of its gains and was trading 1.99 per cent up at Rs 52.25. At this price, it has corrected 20.03 per cent in 2025 so far. 

The renewable energy solutions provider recently informed bourses that its wholly-owned subsidiary Suzlon Global Services Ltd (SGSL) received a penalty order worth Rs 7.47 lakh from the office of Commissioner of Customs (Imports), Mumbai, alleging non-payment of customs duty.

The company also shared an update on its order book size after the cancellation of two orders. "Last reported order book of the company as on January 28, 2025, stood at 5,523 MW. Post this with certain new order intakes/cancellation/truncation, the company's order book as on date stands at a healthy position of 5,622 MW (including the despatches made during Q4 FY25 which shall be disclosed at the time of declaration of the financial results for quarter and financial year ended March 31, 2025)," it stated.

Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said investors with a high-risk appetite can buy Suzlon Energy shares. "The company has faced corporate governance issues in the past and some of them persist. As the renewable energy sector is in an uptrend, one can consider adding this stock on dips," the market expert also said.

On technical setup, support on the counter could be seen in the Rs 48-47 range.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "The structure seems weak with support seen around the Rs 48-47 subzone. While on flip side, strong resistance placed at Rs 54-55 levels is anticipated to restrict its pullback. And until it breaches the same on a decisive manner, outlook remains sideways to negative in the near term."

Kunal Kamble, Senior Technical Research Analyst at Bonanza Group, said, "A sustained move above the Rs 62 mark will signal strong buyer interest and could lead to a bullish rally. On the flip side, a break below Rs 47 would indicate increasing selling pressure, potentially pushing the stock into a downward trend. Traders should watch these levels closely for Suzlon's next move."

As of December 2024, promoters held a 13.25 per cent stake in the company.