Suzlon Energy Ltd Share: Shares of wind turbine manufacturer Suzlon Energy Limited are in focus today on Thursday. The company’s shares witnessed a rise of 5% today and reached an intraday high of Rs 51.34. There is a big block deal behind this rise in shares. Actually, in the block deal held on Thursday, 3.7 crore shares of Suzlon Energy were transacted. The number of shares traded is 0.3% of the total equity of the company. The total transaction value of Suzlon’s block deal was ₹179 crore.
This stock is continuously increasing
Suzlon shares have been rising for three consecutive months. The stock is up 6.5% in June after gaining 15% in May and 3% in April. The stock rose 20% in January before correcting in February and March. The stock is up 33% so far in 2024. If Suzlon manages to achieve this by the end of the year, it will be the fifth consecutive year of positive returns. The stock has given positive annual returns since 2020. All five analysts covering Suzlon have a “buy” rating on the stock, with ICICI Securities estimating the highest target price for the stock at ₹60.
This stock will be divided into 5 pieces, there is a rush to buy shares, the price crosses ₹ 1600
Will the company also give dividend?
During the March quarter earnings call, Suzlon’s management was quizzed on whether the company would consider paying dividends to shareholders now that they have a net cash balance sheet. In response, CFO Himanshu Modi said the company has a business plan to be achieved in financial year 2025, after which such a proposal can be considered.
