Suzlon Energy Ltd shares rebounded by nearly 5% today after a continuous five-day decline, during which the stock lost 22.25%. As of 9:31 AM, shares were trading 4.18% higher at ₹56.29 on the NSE.
Key Developments:
- Recent Decline: The stock had dropped for five consecutive sessions, hitting a day low of ₹53.89 on Wednesday, reflecting a total loss of 22.25%.
- Leadership Change: Suzlon’s CEO of New Business, Ishwar Chand Mangal, recently resigned after 28 years with the company, potentially impacting investor sentiment.
- Q2 FY25 Earnings: Suzlon posted a robust 95.72% YoY increase in consolidated net profit, reaching ₹200.20 crore, up from ₹102.29 crore in the same period last year.
- Revenue Growth: Revenue from operations rose 47.68% YoY to ₹2,092.99 crore, compared to ₹1,417.21 crore in Q2 FY24.
- EBITDA: The company recorded consistent YoY growth in EBITDA, reporting ₹294 crore for the quarter.
Suzlon’s strong Q2 performance and today’s share price rebound indicate renewed investor interest, despite recent management changes and the prior downtrend. The company’s solid revenue and profit growth position it as a stock to watch in the renewable energy sector.
