The stock saw heavy trading volumes, with nearly 13.94 crore shares changing hands on the NSE. The total traded value reached Rs 1,173.4 crore.
Suzlon recently secured a significant order of 1,166 MW from NTPC Green Energy, the renewables arm of state-run NTPC. This large PSU order marks Suzlon’s return to big contracts after a period of ineligibility due to its negative net worth. The order is expected to enhance Suzlon’s earnings visibility for FY26-FY27, according to Morgan Stanley.
As part of the contract, Suzlon will install 370 S144 wind turbines (WTGs), each with a rated capacity of 3.15 MW, to generate electricity for powering 30 lakh households. The project, India’s largest wind energy order, will be executed across three sites in Gujarat.
Under the agreement, Suzlon will supply the wind turbines, manage the erection and commissioning of the project, and provide operations and maintenance services post-commissioning.
Suzlon shares were also in focus recently when it entered into an agreement to sell and lease back its prime real estate, One Earth Property, in Pune for the next 5 years at Rs 440 crore. On this update, domestic brokerage firm ICICI Securities had raised its target price for the stock to Rs 80 from the earlier Rs 70.In technical terms, the relative strength index (RSI) of the stock is currently at 66.1. An RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. Suzlon shares were also trading higher than the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs).The shares of Suzlon have surged by 256% in the last 1 year while giving 111% returns in the current calendar year so far.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Source link
