Turnaround Powers Suzlon
Suzlon is expected to run-up over 48 percent in next 12-months.
Tulsi Tanti-owned Suzlon Energy Ltd. has turned around on the back of its improving financials, after the stock fell by a third last year.
The maker of wind turbines and solar panels has risen close to 41 percent so far this year, making it one of the top gainers in the S&P BSE India Power Index. Analysts tracked by Bloomberg expect the stock to rise more than 49 percent in the next 12 months.
Reliance Infrastructure Ltd. ranks second with expected gains of 43 percent.
Analysts expect Suzlon to increase its market share and pare debt with healthy cash flows. In the first nine-months of the year ended March, the company’s net debt fell by almost a quarter to Rs 6,538 crore.
Ninety percent of the analysts tracked by Bloomberg have a ‘buy’ rating on the stock, while the rest advise ‘hold’.