Stock market analysts have maintained ‘buy’ rating on Suzlon Energy stock with an intraday target of Rs 239.

According to them, interested traders can purchase the stock above Rs 235 with a strict stop loss of Rs 232. If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 242.
 
Shares of the company, on Monday (Sep 08), closed at Rs 235.80 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 1760117. Current EPS & P/E ratio stood at 8.45 and 27.98 respectively. The share price has seen a 52-week high of Rs 460 and a low of Rs 174.50 on BSE.

The market analysts continue to like the company due to its exclusive business model, well-built operating capabilities in addition to its new exciting projects and healthy growth plans.

The stock has great potential to go upside. It can still exhibit superb surge. The long term traders are recommended to hold the stock.

Suzlon Energy Ltd declared that it has successfully finished a 51 MW wind power project for ONGC.

The company said the project is situated at Motisindholi in the Kutch region of Gujarat.

With this, ONGC turns the first public sector company to enter the wind energy segment. The project was inaugurated Sep 6.

Suzlon did not reveal the total cost of the turbines supplied.

Besides the supply of turbines, Suzlon will also fulfill operations and maintenance for 10 years.
    
Suzlon Energy, on Sep 01, has signed up a contract with Martifer for an early acquisition of the Portuguese conglomerate’s equity stake in Germany-based REpower Systems for EUR 270 million.

The contract to purchase Martifer’s stake of around 22.48% in REpower will be finished by December 15, taking Suzlon’s holding stake in the REpower to about 90%.

Suzlon Energy will lift to Rs 50 billion via issue of securities in the international as well as domestic market.
     
The shareholders sanctioned the raising of Rs 50 billion through issue of foreign currency convertible bonds (FCCBs), global depository receipts or other securities.

Other stocks from the same sector that looks good for short-term as well as long-term trading includes BHEL, BEML, Praj Industries and BGR Energy.