Daijiworld Media Network- Mumbai
Mumbai, Aug 13: Shares of Suzlon Energy Ltd. fell nearly 4% in trade on Tuesday despite the company reporting growth in both profit and revenue for the first quarter of the current financial year.
The renewable energy major posted a consolidated net profit of Rs 324.32 crore for the June quarter, up from Rs 302.29 crore in the same period last year — a rise of 7%.
Brokerages including Investec and UBS retained their ‘Buy’ ratings on the stock, citing strong execution, healthy growth in the order book, and a favourable wind energy cycle. They noted that Suzlon remains well-placed to meet its FY26 guidance, aided by stronger market positioning, sector consolidation, and rising protectionism which continues to benefit its core segments.
However, the results came in marginally below estimates of Nuvama, which revised its target price to Rs 67 from Rs 68.