Sell Suzlon Energy With Stop Loss Of Rs 54.50
Technical analyst Rahul Mohinder has maintained 'sell' rating on Suzlon Energy Limited with an intra-day target of Rs 50.
According to analyst, the investors can sell the stock with a stop loss of Rs 54.50.
Mr. Mohinder added that it is better to sell the stock at this time as it looks weak.
He also said that the interested investors can buy the stock again on declines for medium or long term.
Today, the stock of the company opened at Rs 52.80 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 Group has signed up MoU with Gujarat administration to create 1,000 megawatt (MW) of new wind power capacity in the state by the next three years.
The MoU covers up the progress of new capacity in wind farms across Gujarat, with growth projected in the regions of Saurashtra, Kutch and other parts of Gujarat.
This deal opens up the Gujarat's market as an advantageous destination for shareholders all over the world, and could drive more than Rs 6,000 crore in fresh investments into Gujarat, translating into lots of green jobs.
Bedsides direct advantages, the said projects will also generate plentiful clean energy to power Gujarat's quick growth.
Suzlon Energy, on January 06, inked a deal with Hindustan Zinc in order to establish, run and uphold 150 MW of wind power projects in three states including Karnataka, Maharashtra, Rajasthan and Tamil Nadu.
The project includes an overall investment of around Rs 865 crore.