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ICICI Securities Recommends Buying Suzlon Energy Stock for Over 50% Returns Despite Lows
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Suzlon Energy: Buy Recommendation Despite Yearly Lows, 52% Upside Predicted
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CNBC Awaaz
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28-02-2026, 21:25
Suzlon Energy: Buy Recommendation Despite Yearly Lows, 52% Upside Predicted
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ICICI Securities issues 'buy' recommendation for Suzlon Energy with a target price of Rs 65, predicting over 52% upside from current Rs 43.
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Company maintains strong foothold in wind energy with a robust 6.4 GW order book, ensuring over two years of execution visibility.
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Suzlon has strengthened its balance sheet, reducing debt from Rs 120 billion in FY20 and becoming net cash positive by September 2024.
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Government's 10 GW annual wind capacity tender and industry demand for 24x7 power create long-term opportunities.
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Q3 results show strong performance: net profit up 14.8% to Rs 445.2 crore, revenue up 42.4% to Rs 4,228.1 crore.
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