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- Suzlon Energy share price upside momentum was briefly interrupted on Thursday on profit booking but there are multiple reasons to be bullish.
Suzlon Energy share price inched up in late afternoon trading after spending most of the morning in the negative territory ahead of the company’s earnings release. The momentum was underpinned by profit booking among investors, which halted the stock’s four-day winning streak. The renewable energy company will release its results for the fiscal fourth quarter ending March 2025 and analysts forecast the company to report upwards of 60% year-over-year revenue growth to about $430 million (Rs 3,577 crore).
The momentum on Suzlon Energy share price has been upbeat in recent days, driving it +5.4% in the last five sessions. The company has a healthy order book of about 1.5 Giga Watts as of this writing and that will likely grow significantly in the second half of the year. Notably, the company renewed its partnership with NTPC Green Energy in April, marking te continuation of its largest private partnership with a 378 MW order.
Suzlon Energy (NSE: SUZLON) will hold a conference call with investors and analysts on Thursday evening, which could divulge more details on its growth projections. With a total installed wind capacity of nearly 21 GW spread across 17 countries, the company has built a strong footprint that will likely continuer making it attractive for many mega projects across the world. Meanwhile, Suzlon Energy share price will likely resume a stronger uptrend after earnings release, especially in view of renewed investor following US Federal court ruling against reciprocal tariffs.
Suzlon Energy Share Price Prediction
Suzlon Energy share price pivots at Rs 64.50 and the momentum calls for action above that mark. The stock will likely meet initial resistance at Rs 66.60. However, a stronger momentum will breach that mark and could send the price higher to test Rs 68.50. Conversely, action below Rs 64.50 will signal the onset of downward momentum. That will likely see the first support established at Rs 62.85. Breaking below that level will invalidate the upside narrative. Also, the resulting momentum could send the stock price lower to test Rs 61.30.
