Suzlon Energy shares drop 30% in six months, but Motilal Oswal sees 61% upside; here’s why
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Shares of Suzlon Energy tumbled more than 3% on Wednesday, extending a sharp decline for the third consecutive session. Motilal Oswal Financial Services, however, remains bullish on the stock and sees 61% upside potential from current levels, citing several reasons. The stock has fallen around 30% over the past six months, hitting a fresh 52-week low of Rs 39.13 apiece before paring some losses at Monday’s close. Motilal Oswal on Suzlon Energy: Motilal Oswal Financial Services, in its report, said it recently spoke with Suzlon Energy’s management regarding the company’s leadership restructuring under its Suzlon 2.0 vision. The company has announced a new management framework, including the formation of a Group Executive Council (GEC). JP Chalasani has transitioned from Group CEO to a member of the GEC, while Ajay Kapur has been appointed as Group CEO. Rahul Jain will continue as CFO. The domestic brokerage said the revised leadership stru...