Suzlon Energy shares jump 10% to top Rs 60 mark; will this strong upmove continue?

Shares of Suzlon Energy Ltd picked up a strong pace on Monday, breaking above the phycological Rs 60 level. The stock surged 9.50 per cent to settle at Rs 60.31. Despite the mentioned rise, it has tumbled 14.59 per cent in the last six months.

The renewable energy solutions provider recently secured a 100.8 MW EPC (Engineering, Procurement and Construction) wind power order from Sunsure Energy. This project will be executed in Maharashtra’s Jath region.

Under this agreement, Suzlon will supply 48 state‐of‐the‐art S120 wind turbine generators (WTGs) with Hybrid Lattice Towers (HLT), each rated at a 2.1 MW capacity.

A few analysts largely remained positive on the counter for the near term. A decisive move Rs 62 level has the potential to trigger a bullish rally, one of them stated.

“We’ve seen a good breakout coming in Suzlon shares today. Looking at the structure, it looks like the stock is likely to move towards Rs 62-64 levels. Keep stop loss placed at Rs 57,” Nilesh Jain, VP – Derivative and Technical Research at Centrum Broking, told Business Today.

“A sustained move above Rs 62 level will signal strong buyer interest and could lead to a bullish rally,” said Kunal Kamble, Senior Technical Research Analyst at Bonanza Group.

Technically, the scrip traded higher than the 5-day, 10-, 20-, 30-, 50-day and 100-day simple moving averages (SMAs) but lower than 150-day and 200-day SMAs. Its 14-day relative strength index (RSI) came at 63.78. 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-equity (P/E) ratio of 172.31 against a price-to-book (P/B) value of 21.16. 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 1.2, indicating high volatility.

As of March 2025, promoters held a 13.25 per cent stake in the company.