Suzlon Share Price | Important update on Suzlon Energy Company, expert updated target price with rating – NSE: SUZLON
Suzlon Share Price | Shares of Suzlon Energy Limited have fallen 5% in one week, 2% in the last one month and 20% in the last three months. Meanwhile, a big news has come out regarding Suzlon Energy Company. Suzlon Energy Company has given information to the stock market through information. The company said that this matter is an old matter related to Suzlon Wind International Limited Company. (Suzlon Company excerpt)
What information did Suzlon company give?
This case pertains to Suzlon Wind International Limited Company, a subsidiary of Suzlon Energy Limited Company. The subsidiary has received a penalty notice from the Hyderabad branch of the Enforcement Directorate for delay in receipt of selected export proceeds for shipments completed approximately 10 years ago i.e. up to financial year 2016-17. On Friday (27 December 2024), the stock was trading at Rs 63.2, down 1.71%.
The old matter is now over
Office of the Joint Director of Enforcement Directorate Hyderabad has imposed a fine of Rs 20 lakh on Suzlon Wind International Limited Company. The matter pertains to delay in receipt of consignments and export revenue till FY2017. The company told the stock exchange that the matter is old and now it is over.
FII stake increasing in Suzlon
Stock market experts say that foreign institutional investors are making gains in Suzlon Energy Limited Company shares. The financial condition of Suzlon Energy Company has improved and the company has benefited from large contracts related to renewable energy.
Morgan Stanley Brokerage Firm – Short Term Target Price
Morgan Stanley brokerage firm said the stake of foreign institutional investors in Suzlon Energy Limited company has increased in the last few quarters. After several quarters, FII stake in this stock has increased by more than 10 percent. Morgan Stanley's brokerage firm has advised to buy Suzlon shares. The brokerage has given overweight rating to Suzlon share and a short term target price of Rs 71.
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