Fri Nov 22 04:10:00 UTC 2024: ## Suzlon Shares Dip Despite Positive Market Trends
**Mumbai, November 22, 2024** – Suzlon Energy’s share price experienced a slight decline today, closing at ₹64.94, a 0.79% drop from the previous day’s closing price. This comes despite a positive overall market performance, with the Sensex rising 1.14% to ₹78036.86. Suzlon shares fluctuated between a high of ₹68.32 and a low of ₹64.58 throughout the trading day.
While trading above some key short-term moving averages (5, 10, and 30-day SMA), the stock remains below others (20, 50, and 100-day SMA). Technical analysis suggests potential support at the lower SMA levels and resistance at the higher ones. Pivot point analysis indicates key resistance levels at ₹65.94, ₹66.55, and ₹67.77, and support levels at ₹64.11, ₹62.89, and ₹62.28.
Trading volume on the NSE and BSE was down 9.44% compared to the previous session. Despite the negative price movement, Mint’s technical analysis suggests a potential trend reversal after a period of decline.
Fundamentally, Suzlon boasts a Return on Equity (ROE) of 26.31% and a Return on Assets (ROA) of 10.40%. However, the stock’s Price-to-Earnings (P/E) ratio stands at 92.35, and its Price-to-Book (P/B) ratio is at 19.83. Analysts forecast a median 1-year upside of 17.03%, with a target price of ₹76.00.
Promoter holding remains at 0.00%, while Mutual Fund (MF) holding increased from 3.82% to 4.14% and Foreign Institutional Investor (FII) holding rose from 20.63% to 22.82% in the September quarter.
Suzlon’s performance contrasts with mixed results among its peers. While some, like Voltas and Blue Star, experienced declines, others such as Bharat Heavy Electricals and Thermax saw gains.
First Piper 