HSBC downgrades Suzlon Energy to “hold” from “overweight”.
Says potential large foreign currency bonds conversion, 35 pct of FY15 equity, will likely restrict near-term stock price upside.
Stock had 2 buy ratings only – Thomson Reuters Eikon data.
Suzlon rose 2.5 pct on Thursday on rival Inox Wind’s & lt; IPO-INWN.NS > market debut.
Also, Nomura recently started coverage on the stock with a “buy” rating and a target price of 38 rupees.