Despite a 5.72% decline over the past year, Suzlon’s three-year and five-year returns of 537% and 1,090% remain among the strongest in the midcap segment. | Photo Credit: AMIT DAVE

Shares of Suzlon Energy rose 3.34 per cent to ₹51.93 on the NSE by 10.35 am on Friday, outpacing broader markets, with the stock hitting an intraday high of ₹52.16 against a previous close of ₹50.25.

The wind turbine maker’s stock has surged 25.81 per cent over the past month and 14.56 per cent in the past week, sharply outperforming the Nifty Midcap 50 index, which gained 8.33 per cent and 3.09 per cent respectively over the same periods. Traded volume stood at 921.78 lakh shares with a turnover of ₹475.45 crore, reflecting strong participation. The stock’s total market capitalisation stood at ₹71,261 crore.

Broking firm JM Financial, in a note dated April 15, maintained a BUY rating on the stock with a 12-month price target of ₹64, implying an upside of around 23 per cent from current levels. The note, titled “Unintended beneficiary of Middle East crisis,” argued that a drop in gas-based power generation from 8-12 GW to just 2 GW — attributed to the Middle East conflict — has created an evening power supply deficit of around 8 GW in India. This, the brokerage contends, strengthens the case for accelerated wind capacity addition given wind energy’s natural peak generation during evening hours.

JM Financial projected India could commission 8-10 GW of wind capacity in FY27, against a quarterly run rate of 1.4-1.5 GW, with the Ministry of Power targeting 2.4 GW in Q1FY27 alone. For Suzlon specifically, the brokerage expects a sharp improvement in commissioning in H1 FY27, having noted a growing gap between turbine deliveries and installations, with 776 MW of sets erected but awaiting commissioning as of December 2025.

The brokerage projects Suzlon’s net sales to grow to ₹2,242 crore in FY27 and ₹2,510 crore in FY28, with diluted EPS rising to ₹2.3 and ₹2.6 respectively.

Despite a 5.72 per cent decline over the past year, Suzlon’s three-year and five-year returns of 537 per cent and 1,090 per cent remain among the strongest in the midcap segment.

Published on April 17, 2026