Suzlon Energy Ltd shares gained as much as 4.4 per cent in early trade.
Nomura has started coverage with a "buy" rating and a target price of Rs 38. It has said the company is likely to break even at net profit level by early FY17.
Suzlon is well-placed to win back 50 per cent market share in the domestic wind equipment market, Nomura added.
The stock has got 3 buy ratings so far. Suzlon is also rising ahead of rival Inox Wind Ltd's listing whose IPO was subscribed over 18 times.
At 10 am, the Suzlon stock was up Rs 1.10 or 4.17 per cent at Rs 27.50 on the BSE.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.