Suzlon Energy's shares saw a significant rise, increasing by 5 percent to Rs 62.37 on the BSE on Tuesday. This surge followed a rating upgrade by the foreign brokerage firm Morgan Stanley, which has now advised buying Suzlon Energy shares. Morgan Stanley has upgraded its rating from "equal weight" to "overweight" for the company.
The brokerage firm has set a target price of Rs 71 for Suzlon Energy, noting that the recent correction in the stock offers shareholders an opportunity to increase their holdings. Suzlon Energy shares have corrected by 38 percent from their recent high of Rs 86.04. On Wednesday, the stock fell by 9 percent, prompting a reduction in its price band from 10 percent to 5 percent.
Over the last two years, Suzlon Energy shares have surged by an impressive 670 percent, rising from Rs 8.10 on November 18, 2022, to Rs 62.37 on November 19, 2024. In the past three years, the stock has climbed more than 883 percent, up from Rs 6.34 on November 18, 2021. The 52-week high for Suzlon Energy shares stands at Rs 86.04, while the 52-week low is Rs 33.83.
(Note: This article discusses the performance of Suzlon Energy shares and is not investment advice. Always consult with financial experts before making investment decisions.)