Daijiworld Media Network - Mumbai
Mumbai, Oct 25: Shares of Suzlon Energy have declined nearly 55 per cent from their September 2024 peak, following a sharp rally triggered by the company's declaration that it had become debt-free. The stock continues to face selling pressure ahead of its second-quarter results for the financial year 2026-27, scheduled for October 29.
The stock had surged from below Rs 6 per share in July 2022 to around Rs 83 in September 2024. However, it has witnessed a significant correction following the re-rating rally after the debt-free declaration.
Suzlon Energy shares closed at Rs 37.40 on the NSE last Friday, around 39 per cent below their 52-week high of Rs 69.50.
The recent performance points to continued weakness in the stock. Shares declined Rs 3.60, or 8.78 per cent, over the past five trading sessions. Over the past month, the stock fell Rs 3.40, or 8.33 per cent, while it shed Rs 19.53, or 34.31 per cent, over the last six months.
The company's earlier declaration of becoming debt-free had attracted investor interest and triggered a re-rating of the stock. However, the subsequent correction has wiped out a substantial portion of those gains, with the shares continuing to face selling pressure during recent rallies.
Investors will now closely track the company's upcoming quarterly results for indications of its financial performance and business outlook.
In an exchange filing, Suzlon Energy said its board of directors would meet on Thursday, October 29, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026.
The company disclosed the date in accordance with Regulation 29 of the Securities and Exchange Board of India's Listing Obligations and Disclosure Requirements Regulations, 2015.
“Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that a Meeting of the Board of Directors of the Company will be held on Thursday, 29th October 2026 to, inter alia, consider and approve the Unaudited Financial Results of the Company on Standalone and Consolidated basis for the quarter and half year ended on 30th September 2026,” the company said in the filing.