Stock analyst Hitendra Vasudeo (stockmechanics.com) has recommended a ‘Buy’ on Suzlon Energy stock with a price target between Rs 2785-3796, as against today’s (Jan 8) opening price of Rs 2,196.30.

The stock has seen a decent rise in recent trading sessions. It has the potential to rise to the target price as the company has fine growth projections considering its projects under implementation and aggressive growth plans.

Interested investors can purchase the stock between Rs 2240-Rs 2060, with a strict stop loss at Rs 2000. Currently (12:50 pm), the stock is trading 3.68 percent up at Rs 2,249.90. The stock is likely to achieve the said target within this week. So the investors are suggested not to sell the stock before achieving this target.

The stock has seen a 52-week high of Rs 2214 and low of Rs 932 on the Bombay Stock Exchange. The stock is expected to move up on the back of huge volumes, and provide decent gains in today’s session. The current PE is 61.06.

Suzlon Wind Energy, the Europe and Latin America marketing arm of wind turbine maker Suzlon Energy, has received an order for 42.5 MW of wind turbine capacity from Spain. The contract is to be supplied via 22 units of Suzlon`s S88 – 2.1 MW turbines.

Erik Winter Pedersen, CEO of Suzlon Wind Energy, stated, ``This is an exciting opportunity and we are very pleased to partner with Eolia Renovables and Iniciativas Energeticas. We have a winning combination with Suzlon`s EPC experience in large, successful wind projects around the world and the client`s considerable experience in the Spanish energy market.``

In a press release, the company said, the customer is a company with Eolia Renovables, as major shareholder and Iniciativas Energeticas, subsidiary in renewable of the Huarte family group, as minority shareholder, and has relied on Suzlon the turn-key erection of the wind farm Jerez (42.5 MW), installing 22 units of the S88 - 2.1 MW turbine, foreseen to start-up in 2008.

From the last 5-6 days, the engineering segment has been performing well. There are great chances of an upside potential in all these stock today. Don’t miss the chance and make your profit. BHEL & Praj Industries are also looking good for intraday dealings in today’s trading session.