Fri Jan 31 04:10:00 UTC 2025: ## Suzlon Energy Soars on Strong Q3 Results, Analyst Upgrades

**MUMBAI, INDIA** – Suzlon Energy Ltd. saw its stock price surge 5% to hit its upper circuit limit for the second consecutive day, following the release of its December quarter results which exceeded analyst expectations. The strong performance prompted two prominent brokerage firms, JM Financial and Nuvama, to issue “buy” recommendations with target prices of Rs 80 and Rs 60, respectively, representing a potential upside of up to 44% from the current price of Rs 55.39.

The positive outlook reflects Suzlon’s robust performance, highlighted by a record-high order book of 5,521 MW extending to January 2025. This order book includes a significant 1,166 MW wind energy contract from NTPC Green, the largest single order in India’s history. The company is also bidding on an additional 900+ MW tender from the same entity. JM Financial emphasized Suzlon’s improved operational readiness, bolstered by new leadership, supply chain enhancements, and ample working capital. The brokerage firm highlighted the importance of continued capacity expansion and noted the secured land for several large orders, ensuring improved execution visibility.

Nuvama Institutional Equities also upgraded its rating on Suzlon Energy from “Hold” to “Buy,” citing improved valuation after a recent stock correction. The firm praised Suzlon’s strong Q3 execution, exceeding its own projections, and highlighted the better-than-expected operating margin of 16.8%. Nuvama’s revised target price of Rs 60 incorporates expectations for improved execution and other factors.

Despite recent market fluctuations, Suzlon Energy’s stock remains a multibagger, boasting a 518.19% increase over the past two years. The positive analyst assessments and strong financial performance suggest continued growth for the renewable energy solutions provider.

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