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Suzlon Energy: Nuvama Sees Rs 60 Target Amidst Order Boom
9 Dec, 2025
Summary
- Nuvama initiates BUY rating, targets Rs 60 per share for Suzlon.
- Wind installation in India projected to reach 10 GW by FY28.
- Suzlon's pending orders and expanded capacity ensure future growth.
Brokerage house Nuvama has upgraded Suzlon Energy shares to a BUY rating, projecting a potential rise to Rs 60 per share. This positive outlook stems from the company's robust order book and expansion plans, despite a slight reduction in the target price from Rs 66. Nuvama's analysis, following a visit to Suzlon's Puducherry plant, forecasts significant growth in India's wind installation capacity, escalating to 10 GW by FY28.
While a slowdown in tendering is anticipated for the latter half of FY26 and into FY27, Suzlon's existing 17.6 GW order backlog and pending state bids are expected to mitigate its impact. The company is also targeting 2 GW of new order inflows, aiming to maintain a strong order book. Suzlon anticipates full utilization of its expanded 4.5 GW capacity by FY29-30, with demand from data centers and export markets providing additional upside.
