Suzlon Energy Ltd shares rose 4% in Wednesday’s trading, extending their winning streak to an eighth session. In the process, the stock hit a new 52-week high and surpassed 12-month targets set by a few brokerages following its all-around June quarter results.
Suzlon Energy’s stock rose 3.88 percent on the BSE to reach a one-year high of Rs 70.90. In the eight days of the rise, the stock had gained 29%. With this, the share price has increased by 265% during the last 12 months. On July 24, ICICI Securities increased its target price for the stock from Rs 60 to Rs 70, although it downgraded the rating to ‘Add’ from ‘Buy’.
As of 2:31 pm, Suzlon Energy shares were trading 2.14% higher at Rs 69.68.
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