Technical analyst Anil Singhvi has maintained 'buy' rating on Suzlon Energy Limited (IGL) stock with an intra-day target of Rs 56.

According to analyst, the investors can purchase the stock with a stop loss of Rs 51.

The stock of the company, on January 14, closed at Rs 52.30 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 93.95 and a low of Rs 45 on BSE.

Current EPS is -9.07.

Suzlon Energy entered into a memorandum of understanding (MoU) with the government of Gujarat.

The energy giant inked the MoU with the objective to make 1,000 mega watt of wind power.

The MoU wraps up the growth of new capacity in wind farms across Gujarat, with growth proposed in different regions that comprises Kutch, Saurashtra and other parts of the state.

Suzlon Group, on Jan 06, has entered into a contract with Hindustan Zinc in order to establish, run as well as conserve 150 MW of wind power projects across Karnataka, Maharashtra, Rajasthan and Tamil Nadu.

The project consists of a total investment of around $191 million.