For those holding or considering the purchase of Suzlon Energy shares, there’s exciting news on the horizon. The renewable energy giant has recently disclosed its updated price target.

Previously, the company’s shares had a target of about 30 rupees, which they have since approached. On the last trading day, Suzlon Energy’s shares closed at 26.80 rupees, marking a slight decline of 0.35 paise or 1.29%. The stock touched both a low of 26.60 rupees and a high of 27.45 rupees on that day. In the past year, the shares have fluctuated between a low of 6.60 rupees and a high of 29.80 rupees.

A few months ago, analysts projected the share’s target close to 30 rupees. Now that the shares have nearly reached that mark, investors were eagerly awaiting a revised forecast. This anticipation has now been met. Choice Broking’s Sumit Bagadia has released a new price target for Suzlon Energy.

According to his predictions, Suzlon Energy’s shares could soon touch the 40-rupee mark. However, Bagadia advises a cautious approach, suggesting an investment in Suzlon Energy with a stop loss at 25 rupees and a target price of 40 rupees.

Suzlon Energy
Suzlon Energy

Now, focusing on performance, Suzlon Energy has proven to be a rewarding investment. In the past month alone, the share has yielded a return of approximately 20.99%. Stretching the timeframe further, over three months, it provided returns nearing 52.71%. Impressively, within the span of a year, the shares surged by about 294.12%. And for those who invested three years ago, the returns are a whopping 840.35%.

Given these strong returns and the updated forecasts, Suzlon Energy continues to be a stock to watch in the renewable energy sector.

Sonu Roy is originally a resident of Samastipur district of Bihar, has been working as a writer in digital journalism for the last 4 years. In his career of 4 years, he has good experience from politics, automobile, motivation, sports to technology field.