A total of 80 million shares of the Pune-headquartered wind turbine manufacturer changed hands, according to NSE data. Suzlon Energy: FIIs stake
FIIs held a total of 3,270,964,184 shares of the company at the end of the March quarter versus 3,254,120,395 shares in the December quarter, data showed. Suzlon Energy: MFs stake
Similarly, mutual funds also increased their stake in the company marginally in the March quarter to 4.87 per cent, up from 4.82 per cent in the December quarter, as per the company’s shareholding pattern available on the BSE.
Mutual fund houses together owned a total of 668,265,915 shares of the renewable energy player at the end of the quarter, data showed.
Suzlon Energy share price target
Gaurang Shah of Geojit Financial Services said that his long-term view on Suzlon Energy is positive and recommended a ‘Buy’ with a target of ₹55. He added that the government’s strong focus on renewable energy, both wind and solar, will benefit companies like Suzlon.
“A significant amount of new power generation capacity is expected to be added. A major portion of this capacity will come from clean and green energy sources. From a fundamental perspective, we maintain a positive long-term view on Suzlon Energy,” the expert said.
Gaurang Shah, however, noted that a key factor to watch is Suzlon’s execution of its order book. “How effectively projects are delivered on the ground will be crucial for earnings visibility and potential upside in the stock price.”
Suzlon Energy stock: Technical view
Harish Jujarey, AVP and head of technical equity research at Prithvi Finmart, said that Suzlon Energy has been in a corrective phase over the past six months. Recently, the stock found support around the ₹40 level and has since made a decent recovery, moving towards the ₹48 zone.
From a technical perspective, the immediate trendline resistance is placed near ₹49, the analyst said. In the very short term, the stock may witness some profit-booking or consolidation around current levels.
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