Suzlon Energy’s stock down 23% from 52-week high; will it bounce back or there’s more pain?
Shares of Suzlon Energy Ltd on Monday resumed fall after a single-day halt. The stock fell 2.64 per cent to settle at Rs 66.34. At this price, it has declined 22.90 per cent from its one-year high value of Rs 86.04, a level seen on September 12, 2024. Despite the mentioned drop, the scrip has rallied 72.40 per cent on a year-to-date (YTD) basis.
On the earnings front, the renewable energy solutions provider reported a 95.72 per cent year-on-year (YoY) surge in its second-quarter consolidated net profit for the financial year 2024-25 (Q2 FY25). During the quarter under review, profit came at Rs 200.20 crore as against Rs 102.29 crore in the year-ago period. Revenue from operations moved up 47.68 per cent to Rs 2,092.99 crore in Q2 FY25…
