The potential of the wind power sector has prompted Brokerage Firm Anand Rathi to express optimism through “BUY” ratings on Suzlon Energy and Inox Wind. Such support is in line with the government’s aggressive growth expectations, which undoubtedly portend promising conditions for the industry.
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Ratings & Target Price
According to Anand Rathi, Suzlon Energy’s price may rise to around INR 49, while Inox Wind’s price may reach around INR 590. This shows that they have good potential for growth in the market. Anand Rathi believes that the future of both companies is stable.
Suzlon moves towards a net cash position
Suzlon Energy, which claims a 32% market share in India’s wind turbine sector, has achieved an important milestone by achieving a net cash position in the first nine months of FY24. This is a significant moment for the company, the first example of such financial strength since fiscal 2006. Anand Rathi’s coverage highlights Suzlon Energy’s resilience amid regional challenges, which positions it favourably for future growth.
Inox Wind: Leveraging regional integration for growth
With its full integration into the wind energy sector, Inox Wind is poised to take advantage of the growth in this sector. Anand Rathi’s bullish outlook on Inox Wind underlines the company’s strategic position and ability to generate substantial profits amid favourable market conditions.
Market performance and growth prospects
Over the past year, both stocks have seen significant growth, driven by promising growth prospects. Anand Rathi has expressed the upside potential for both Suzlon Energy and Inox Wind, underscoring their attractiveness as investment opportunities.
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Market Reaction and Concluding Comments
On Saturday, March 29, 2024, Suzlon Energy’s stock witnessed a good surge, rising almost 5% to INR 40 per share by the end of the day. Meanwhile, Inox Wind ended the day at INR 518, slightly lower than the previous day’s closing price.
Disclaimer
The content of this article is only for informational purposes and we do not offer any investment advice from our end. Please consult a SEBI-registered investment advisor before making any investment decision. The information does not necessarily reflect the views/opinions of the publisher.
