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.
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.
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.
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.
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.