Suzlon Energy share price jumps nearly 15% in 4 days; is it a stock to buy?

Rising for the fourth consecutive session, Suzlon Energy share price jumped over 9 per cent in intraday trade on Friday, March 7. Suzlon Energy shares opened at ₹51.94 against its previous close of ₹52.13 and jumped 9.23 per cent to the level of ₹56.94. Around 11:50 AM, the renewable energy stock traded 6.89 per cent higher at ₹55.72. In these four sessions of gains, the stock has jumped almost 15 per cent.

Why is Suzlon Energy share price rising?

Suzlon Energy’s share price has been rising since March 4 after the company announced expanding its largest commercial and industrial order with Jindal Renewables.

“Suzlon has secured a third order of 204.75 MW from Jindal Green Wind 1 Pvt. Ltd., a subsidiary of Jindal Renewables, further accelerating the low CO₂ steel revolution in India. This partnership is also now Suzlon’s largest commercial and industrial (C&I) order with a cumulative capacity of 907.20 MW,” the Pune-headquartered company said in an exchange filing on March 4.

“Earlier, Suzlon secured two orders to power Jindal Steel’s plants in Chhattisgarh and Odisha, adding 702.45 MW of wind energy. Currently, C&I customers account for 59 per cent of Suzlon’s total order book, which has now reached a record 5.9 GW — the highest in the company’s history,” Suzlon said.

“With decades of expertise in renewable energy, Suzlon is uniquely positioned to drive the decarbonisation of hard‐to‐abate sectors like steel and heavy industries. As industrial growth accelerates, the need for sustainable energy solutions has never been greater. Suzlon is committed to delivering innovative wind energy solutions that help industries reduce their carbon footprint while ensuring long‐term energy security,” said JP Chalasani, Chief Executive Officer at Suzlon Group.

Suzlon Energy share price trend

As of March 6 close, Suzlon Energy share price has gained over 35 per cent over the last year. Suzlon Energy shares hit their 52-week high of ₹86.04 on September 12 after hitting a 52-week low of ₹35.49 on March 14 last year.

After hitting a 52-week high in September last year, Suzlon Energy stock has experienced a significant correction since October. On a monthly scale, the stock fell over 16 per cent in October, followed by a 6 per cent fall in November and a 1 per cent fall in December. In January and February 2025, the stock declined 7 per cent and 14.5 per cent, respectively. Overall, the stock suffered a loss of 38 per cent from October to February.

Suzlon Energy: Is it a stock to buy?

In February last week, brokerage firm Investec initiated coverage on the stock with a ‘buy’ call, pegging the target price at ₹70.

According to media reports, Investec believes that Suzlon is well-positioned to capitalise on the resurgence in the wind energy sector. The current order book of the wind equipment supplier Suzlon Energy is at an all-time high of 5.5 GW.

The brokerage firm, according to reports, noted that Suzlon has evolved into a net-cash entity with strong Return on Equity (RoE) and Return on Capital Employed (RoCE), supported by a rapidly expanding order book, a strong pipeline of bids and a fully optimised supply chain.

On the technical front, Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers pointed out Suzlon recently rebounded from the S3 monthly Camarilla pivot, a strong support level, indicating buying interest. The stock is now sustaining above the R3 resistance, which is a bullish signal.

Patel further said if Suzlon holds above ₹53.5 for two to three sessions, it could confirm strength and potentially move toward the ₹58 level.

“This sustained breakout suggests increasing momentum, making it a favourable setup for further upside. Traders should watch price action closely, as holding above key resistance levels often leads to continued bullish moves. Maintaining support above ₹53.5 is crucial for this positive outlook to remain intact,” said Patel.

Read all market-related news here

Read more stories by Nishant Kumar

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.