The Suzlon share price today closed 1.65% higher, reversing some of the losses incurred over the past three days from Tuesday to Thursday. The stock has pulled back slightly after hitting a high of 84.47 on Tuesday, August 13, 2024, amid some profit-taking from investors.
The NSE: SUZLON Energy share price has risen 104.78% since the year began, with most of the gains coming in the past three months, when the shares have risen 61.56%. The recent profit-taking has been attributed to smart retail traders who bought the shares early. The percentage of retail shareholders shrunk to 23.16% in the June quarter compared to 25.93% in the March quarter.
The company recently announced that shareholders approved its merger with its wholly-owned subsidiary, Suzlon Global Services Limited. According to Suzlon, the merger was approved by shareholders and creditors at a general meeting held on August 16, 2024.
Suzlon Energy’s financial performance over the past three years has been positive since it has achieved revenue growth of 24.76% and EPS growth of 58.20%. Most analysts recommend a strong buy, a buy, or a hold on Suzlon shares, which is a highly positive rating for the energy company’s stock.
Some analysts predict that the Suzlon share price will soon rise from its current level of 78.84 to a high of 105-110.
This post was last modified on Aug 26, 2024, 16:58 BST 16:58