Ishwar Chand Mangal has resigned as CEO of New Business at Suzlon Energy, effective November 8, 2024, to pursue new opportunities. Additionally, he will no longer serve as a Senior Management Personnel (SMP) of the company. Suzlon, India’s largest renewable energy provider, has recently reported a 95.72% increase in consolidated net profit for Q2 FY25, reaching Rs 200.20 crore, with a 47.68% rise in revenue from operations to Rs 2,092.99 crore compared to Q2 FY24.
Shares of Suzlon Energy fell by 6.49% to Rs 62.50 on Friday, 8 November 2024. The drop comes after the resignation of Ishwar Chand Mangal, the CEO of New Business, which raised concerns among investors. Suzlon Energy, India’s leading renewable energy company, had recently reported strong financial growth for Q2 FY25.
Suzlon Share Price Today
As of November 11, 2024, at 11:02 AM, Suzlon shares are priced at ₹59.99, reflecting a 4.02% decline from the previous close. The stock has reached a high of ₹61.58 and a low of ₹58.54 today. Technical analysis shows that the stock is above the 300-day SMA but below the 5, 10, 20, 50, and 100-day SMAs. Key resistance levels are ₹65.28, ₹67.98, and ₹69.37, with support at ₹61.19, ₹59.80, and ₹57.10.
As of today, Suzlon’s share price has fallen by 4.02%, trading at ₹59.99. The stock’s volume on NSE and BSE is down by 27.69% compared to the previous session, indicating lower trading activity. Technical analysis suggests a bearish trend, with the stock continuing its downward movement. From a fundamental perspective, Suzlon has an ROE of 26.31%, ROA of 10.40%, and a P/E ratio of 88.35. Its 1-year target price is ₹77.00, reflecting a potential upside of 28.35%.
