Expect 50% upside in Suzlon Energy

Rajen Shah of Angel Broking is of the view that one can expect 50 per cent upside in Suzlon Energy in 12-24 months. Shah told CNBC-TV18, "We had a spectacular run up seen in Suzlon from levels of Rs 40 it went up to almost Rs 140 levels and that too in a very short period of time, almost 3-4 months. So the stock had to correct and the correction has set in. But now that it has come down to Rs 80-84 levels, the stock has seen levels. It is quoting at about almost 14 times the current year, Angel’s expected earnings of about 6, so it is reasonably priced stock. I do not see major downside from here maybe if the holding period is for about 12-24 months the investor could expect about 50 per cent kind of upside from hereon."