Suzlon Energy started the new year on a high note. On January 1, 2025, the company’s shares surged by up to 4% after the market opened. The rise came after the company shared significant business updates post-market hours on Tuesday, which had a positive impact on its stock price.
Rating Upgrade: Boosting Investor Confidence
Suzlon Energy’s subsidiary, SE Forge Limited, received a credit rating upgrade from CRISIL, reflecting improved financial stability:
- Long-Term Rating: Upgraded from ‘CRISIL BBB-/Stable’ to ‘CRISIL BBB+/Positive’.
- Short-Term Rating: Upgraded from ‘CRISIL A3’ to ‘CRISIL A2’.
- Total Bank Loan Facility: ₹205.45 crore.
Relief on Penalty
The National Faceless Penalty Centre of the Income Tax Department revoked a penalty of ₹260.35 crore imposed for the financial years 2015-16 and 2016-17. Suzlon disclosed this update to the exchanges on Tuesday after the market closed.
Share Price Movement
- Opening Price (BSE): ₹62.89.
- Previous Close: ₹62.23.
- Day’s High: ₹64.67 (up by 4%).
- 52-Week High: ₹86.03 (September 2024).
- 52-Week Low: ₹35.49 (March 2024).
Performance Over the Last Two Years
Suzlon Energy has delivered multibagger returns, starting at ₹10 per share in early 2023. In 2024, the stock provided an impressive 62% return to investors.
Other Major Updates
- SE Forge Ltd. CEO S. Venkat Subramaniam resigned on December 31, 2024.
- Market Cap: ₹89,174.50 crore.
- Promoter Holding: 13.25%.
- Free Cash Flow: ₹263.13 crore.
Conclusion
With a credit rating upgrade, relief on penalties, and strong financial health, Suzlon Energy remains an attractive option for investors. The company’s positive start to the new year and its track record of delivering multibagger returns have solidified its position as a favorite in the market.
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