Mumbai: Suzlon share price plunged over 8 per cent on November 13, 2024 to close at Rs 54.49. The counter has dropped around 22 per cent in the last five trading days. The Suzlon shareholders are in a dilemma as the multibagger has been continuously falling.
Speaking exclusively to News9, stock market expert Arun Mantri said Suzlon is under sell off mode in the last few days. The counter is looking good on the weekly time frame while the short term trend looks weak. He advised the shareholders of Suzlon to hold the stock and maintain the Stop Loss at Rs 46. “The existing shareholders may hold the stock keeping SL below 46 which is the medium term support while short term traders may add on to the stock around 50-51 odd levels,” he added.
Suzlon Q2 Results 2024-25
Suzlon’s second quarter results for the financial year 2024-25 (Q2 FY25) ending on 30th September 2024 were quite encouraging. In its financials, the renewable energy solutions provider mentioned that its consolidated net profit almost doubled to Rs 201 crore in the July-September quarter compared to Q2 of 2023-24. The wind energy firm had posted a consolidated net profit of Rs 102 crore in the second quarter of the previous financial year.
Suzlon reported its total income increased to Rs 2,121.23 crore in Q2 of the currency fiscal while it was Rs 1,428.69 crore in the same quarter last financial year. The firm further mentioned that its EBITDA surged 31 per cent to Rs 294 crore. Its order book was at all‐time high 5.1 GW.
Suzlon Q2 Results Highlights
The company mentioned that its deliveries stood at 256 MW in line with market expectations
It reported considerable increase in revenues at Rs 2,093 crore
Consistent YoY growth in EBITDA at Rs 294 crore
EBITDA Margin was recorded at 14.1 per cent
Net Margin stood at 9.6 per cent
Profit After Tax was recorded at Rs 201 crore
In September 2024, NTPC Green Energy Limited, the Renewables Arm of India’s largest energy conglomerate NTPC Limited, sealed a deal with Suzlon, India’s largest Wind Energy OEM for the nation’s single largest Wind Energy order. In its release, Suzlon Group confirmed bagging India’s largest wind energy order from NTPC Green Energy Limited for 1166 MW.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Suzlon share price dropped over 8 per cent on 13th November 2024. Suzlon Q@ Results 2024-25 were quite impressive as the company Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
