Suzlon Energy share price snaps four-day winning streak ahead of Q4 results

Suzlon Energy share price fell over 2% in Thursday's session ahead of Q4 results today, May 29. The company's board of directors will review and authorise the financial results on both standalone and consolidated basis for the quarter and the fiscal year that concluded on March 31, 2025, as mentioned in the exchange filing. 

With today's fall, Suzlon Energy share price snapped its four-day winning streak ahead of Q4 results. The stock had risen 8% during this period. 

Suzlon Energy announced that its net profit surged by over 90% year-over-year (YoY) to ₹386.92 crore for the quarter ended December 31, 2024, with revenue increasing by more than 91% YoY to reach ₹2,968.81 crore.

For the quarter ended December 2023, the company had reported revenue from operations of ₹1,552.91 crore and a profit of ₹203.04 crore.

Recently, Suzlon obtained a 378 MW wind energy project from NTPC Green Energy, bringing its total awarded capacity from this client to 1,544 MW. This contract enhances Suzlon's market leadership and reinforces its dedication to sustainable, large-scale growth, as per a company announcement.

Suzlon Energy: Technical Views

Suzlon Energy share price today opened at ₹67.35 apiece on the BSE. The stock touched an intraday high of ₹67.64 apiece and an intraday low of ₹64.75 per share.

According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Suzlon Energy share price has corrected in today's session post witnessing a significant rally in the last 4 days. Overall, the bias remains positive, with support seen around 62 levels, while on the flip side, 75 is the next key resistance, Bhosale added.

Anshul Jain, Head of Research at Lakshmishree Investments, explained that Suzlon Energy share price has broken out of a 75-day-long cup and handle pattern at ₹62 and is currently heading for a potential retest of the breakout zone. Dips towards ₹62 should be seen as a buying opportunity, with an immediate upside target of ₹72.5. Volumes in the base remained ideal, with clear signs of buying force, supporting the bullish structure. If the retest holds, a fresh uptrend could resume quickly.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.