Suzlon Energy shares likely to be a multibagger stock in 2024, when the power sector is expected to see a significant rally

The stock has made its mark by becoming one of the high performers on Dalal Street in the last one year

On Saturday, Suzlon Energy shares traded nearly 2% higher at Rs 42.45 in the market with over 2.25 crore shares changing hands.

Suzlon Energy Share Price Target

ET Now’s Swadesh panelist has expressed the potential of the stock to reach Rs 49 level in the coming days.

Avdhoot Bagkar, derivatives and technical analyst at Stockbox, calls for a positive trend for Suzlon Energy and if the stock crosses Rs 44,So a new breakout may occur. His target is around Rs 50 and Rs 54

Kunal V Parar, Vice President, Technical Research and Algo, Choice Broking, said he suggests any fall to Rs 38-36 as a buying opportunity with a target of Rs 52-55.

Suzlon Energy Share Price History

Suzlon Energy shares have climbed as much as 18% in the last one month and 28% in three months, according to BSE Analytics. Investors’ money has more than doubled in the last six months.In which there has been a huge increase of 124%.

Suzlon Energy shares have provided investors with a strong return of 273% over the past one year, and have grown investors’ money by 600% to 770% over three and five years, according to analytics.

With Suzlon Energy being a constituent of the S&P, the 52-week range of its shares is Rs 45.70 to Rs 6.96 on the BSE. According to the BSE website, the market cap of the company as on January 20 was Rs 57,068.13 crore.

This information from ET Now Digital is for informational purposes only and should not be construed as investment advice.(ET Now Digital suggests its readers/viewers to consult their financial advisors before taking any money related decisions.)