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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.
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