Anand Rathi, a leading brokerage firm, has given ‘Buy’ ratings to Suzlon Energy and Inox Wind as it sees promising growth prospects in the renewable energy sector. With the government’s focus on boosting wind energy, these companies are expected to benefit.
According to Anand Rathi, Suzlon Energy has a target price of ₹49, while Inox Wind’s target price is ₹590. Suzlon Energy holds a significant 32% market share in India’s wind turbines sector and has achieved a net-cash status for the first time since FY06. On the other hand, Inox Wind is fully integrated into the wind energy sector, positioning it well to capitalize on the sector’s growth.
Both companies have seen improvements in their order books after a period of stagnation, ensuring earnings stability. With fewer competitors in the market, Suzlon Energy and Inox Wind are expected to dominate, driving their stock prices higher.
The brokerage firm highlighted the improving return on equity for both companies and expects them to become debt-free soon. This positive outlook has led to a surge in stock prices, with Suzlon Energy trading over 5% higher and Inox Wind showing promising growth potential.
In summary, Anand Rathi’s endorsement of Suzlon Energy and Inox Wind reflects confidence in the renewable energy sector’s future growth trajectory.
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