On Friday, the stock climbed 3.3% to a new 52-week high of Rs 75.39, driven by substantial trading volumes on the NSE. Approximately 5.83 crore shares worth Rs 433.5 crore changed hands.
At 11:14 am, the scrip was trading 2.4% higher at Rs 74.7 on NSE. Over the past three months, the stock has risen nearly 90%, and it has gained 280% in the last 12 months. Notably, the stock has surged nearly 960% in the past two years.
This stock surge follows Suzlon’s significant growth in consolidated net profit, which soared to Rs 302 crore for Q1 FY25, marking a 200% year-on-year increase from Rs 101 crore in the same quarter of the previous fiscal year.
In Q1 FY25, Suzlon also reported a 50% increase in revenue from operations, reaching Rs 2,016 crore compared to Rs 1,348 crore in the same period last year. The company’s EBITDA rose 86% to Rs 370 crore, with an improved EBITDA margin of 18.4%, up from 14.8% a year earlier.Recently, Suzlonβs board approved the acquisition of a 76% stake in Renom Energy Services. The total acquisition cost is around Rs 660 crore, including Rs 400 crore for an initial 51% stake to be acquired within three months, and an additional 25% stake to be acquired within 18 months.The acquisition of the first 51% stake will be in cash, while the remaining 25% can be acquired through cash or a share swap. This strategic move strengthens Suzlon’s presence in the non-Suzlon segments of the Indian wind energy services industry.In technical terms, the relative strength index (RSI) of the stock is currently at 73.8. 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 Suzlon Group is one of the leading renewable energy solutions providers in the world with 20.8 GW of wind energy capacity installed across 17 countries. Headquartered in Pune, Suzlon Energy is a vertically integrated organisation, with inβhouse research and development (R&D) centres in Germany, the Netherlands, Denmark, and India.
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