Suzlon Energy shares: Suzlon Energy’s Windfall: A Promising Upswing in the Wind Power Sector

Suzlon Energy shares: On October 27, India’s leading wind power company, Suzlon Energy, clinched a significant deal that promises to further bolster its impressive portfolio. The firm secured a major order for a wind power project, fueling a robust 4.5% surge in its stock in early trading.

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The order, as reported to the stock market by the company, hails from Juniper Green Energy Pvt. Ltd. for a 50.4 megawatt wind energy project. Over the past year, Suzlon’s shares have witnessed a remarkable growth trajectory. The past six months alone have delivered a robust 300% return on its shares.

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Suzlon Energy Share highlighted that under this new order, they will be deploying 16 wind turbine generators (WTGs) with a rated capacity of 3.15 megawatts each, utilizing their latest product – the Hybrid Lattice Tubular (HLT) tower. The slated location for this wind energy venture is in the Dwarka district of Gujarat, with expectations to be operational by 2025.

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In the wake of this development, the company’s stock price soared to a day’s high of ₹32.90. To put this in perspective, the closing price of Suzlon’s share stood at ₹31.40 on October 26, 2023. The surge in stock price is a testament to the company’s performance and potential, having demonstrated an impressive 100% increase in the last three months and 300% over the last six months.

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Over the course of the last year, Suzlon Energy’s share has established itself as a multibagger, providing returns of around 304%. As of October 27, 2023, the company boasts a market cap of approximately ₹43,875 crores on the BSE, marking a 201% surge in its share in 2023.

Suzlon Energy shares: Suzlon Energy, a dominant player in the wind energy sector, commands a market share of 33% domestically. Globally, the firm possesses an operational wind power capacity of 20GW. In recognition of its growing prowess, the credit rating agency, CRISIL, recently upgraded the company’s rating from ‘CRISIL BBB-/A3’ to ‘CRISIL BBB+/A2’. Accompanying this rating adjustment, CRISIL has also retained a positive outlook for both the company’s long-term and short-term facilities.

This recent windfall for Suzlon Energy underscores the increasing prominence and potential of renewable energy in India, with Suzlon leading the charge in the wind power sector.