Suzlon EnergyShares of s rose 5 percent for a third straight session, hitting a new 52-week high of ₹86 on the London Stock Exchange on Wednesday. This momentum was driven by favorable investor sentiment after Morgan Stanley assigned an overweight rating to the renewable energy company.
The stock saw strong trading activity with approximately 13.94 million shares traded on the NSE. The total value traded amounted to ₹1,173.4 crore rupees.
Suzlon Suzlon has recently secured a major 1,166 MW contract from NTPC Green Energy, the renewable energy arm of state-owned NTPC. This major public sector order marks Suzlon’s return to major contracts after a period of ineligibility due to its negative equity. Morgan Stanley expects this order to improve Suzlon’s earnings outlook for fiscal 2026 and 2027.
Under the contract, Suzlon will install 370 S144 wind turbines, each with a nominal capacity of 3.15 MW, to produce electricity for 3 million households. This project, which is the largest wind power order in India, will be implemented at three locations in Gujarat.
The agreement provides that Suzlon will supply the wind turbines, oversee their assembly and commissioning, and provide ongoing operation and maintenance services once the project is operational.
What’s behind the rally?
Suzlon The stock recently attracted attention when the company agreed to sell and lease back its prime real estate property, One Earth Property in Pune, for the next 5 years. ₹440 crores. Following this development, domestic brokerage ICICI Securities increased its target price for the stock. ₹70 to ₹80.
The green energy company’s market capitalization rose to ₹1.14 lakh crore on the Boston Stock Exchange. Suzlon Energy shares have risen 266 per cent over the past one year and 827 per cent over the past two years.
The action, with a remarkable performance, registered a high turnover of ₹110 crore today, with 12.935 million shares traded on the Boston Stock Exchange. On September 13, 2023, Suzlon Energy shares hit their 52-week low of ₹21.71. With a beta of 0.9, Suzlon Energy shares show low volatility over the past year.
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