Skyrocketing Stocks Suzlon Energy Stock Price
On Friday, the producer of renewable energy solutions Skyrocketing Stocks Suzlon Group announced to the stock exchange that Tech Green Power XI Private Limited had placed a sizeable order for the company’s 3 MW series of wind turbines. On Friday, August 25, the share price of Skyrocketing Stocks Suzlon Energy increased by more than 4.8% in the wind energy industry.
On August 24, during the previous trading session, this represented a rise greater than 52 weeks. O2 Power Private Limited has awarded Suzlon Energy a sizable order. Over the past year, the stock has moved sharply. In the previous four months, the stock has increased by more than 180%.
Suzlon Energy Acquires Order for 201.6 MW
Suzlon Group, a producer of renewable energy solutions, declared on Friday that Tech Green Power XI Private Limited has placed a sizable order for its 3 MW series of wind turbines. O2 Power Private Limited’s subsidiary is Tech Green Power. Skyrocketing Stocks Suzlon will deploy 64 wind turbine generators totalling 201.6 MW, each with a 3.15 megawatt capacity.
By 2025, the project may start, and the corporation will also offer operation and maintenance services after commissioning. The business had earlier on Thursday said that Integram Energy Infrastructure has placed an order for a 31.5 MW wind power project.
Suzlon Energy’s shares started Friday’s trading session up 4.6%, and the company’s market capitalization surpassed $30 billion. The stock rose up to 4.65% during the trading session, reaching a day’s high of INR 22.50.
The company’s market value
on the BSE was around INR 30,247.86 crores as of August 25. With a 33% domestic market share, Suzlon Energy dominates the wind energy industry. The business has a 20GW global operating wind power capacity.
The shares of Suzlon Energy had impressive rise last week. The company’s shares finished at INR 22.55 on the NSE on Friday, up 4.88% from the previous day. A ‘Buy’ rating and a target price of INR 30 per share by September 2024 have been set by brokerage company JM Financial for Suzlon Energy Limited.
The brokerage firm
Attributes its optimistic prognosis to a solid order book and balance sheet. Because of the favourable industry conditions, the company’s balance sheets, and its robust order book, JM Financial anticipates a significant increase in the company’s performance. As a result, they started covering the stock with a buying recommendation and a target price of INR 30 per share.
Despite upcoming difficult times, Suzlon Energy maintained a market share of 30–35% in the domestic market thanks to its excellent technological capabilities and trustworthy OEM services, according to brokers.
According to JM Financial
the rising order book and high-margin product mix give revenue visibility for the following two years.Before the Friday market closed, the business received a sizable order for 201.6 megawatts.
Suzlon Group said that O2 Power Private Limited and Tech Green Power XI Private Limited have placed a sizable new order for its 3 megawatt class wind turbines.
Shares in Suzlon Energy
have increased significantly over the previous year, with returns of almost 110% until this point in 2023. Over the previous year, the shares have increased by 185%. The share price increased by more than 183% between April and August of this year. On April 24, 2023, the share price was Rs. 7.95; on August 25, it closed at Rs. 22.55, a gain of 4.88%. This indicates that a one lakh rupee investment in this share has increased to more than two lakh rupees in just four months.
(Disclaimer: Stock market investments are subject to market hazards. This article does not offer investment advice. Before making any investment, it is advisable to speak with your adviser.)
Table of Contents
FAQ
1. What is the market share of Suzlon Energy in the domestic market?
A: Suzlon Energy maintains a market share of 30-35% in the domestic market due to its technological superiority and reliable OEM services.
2. How has Suzlon Energy managed to maintain its market share despite tough times?
A: Suzlon Energy’s technological superiority and trustworthy OEM services have enabled it to continue holding a significant market share even during challenging periods.
3. What does JM Financial suggest about Suzlon Energy’s future?
A: JM Financial mentions that Suzlon Energy’s increasing order book, along with high-margin product-mix, provides revenue visibility for the next 2 years.
4. What recent major order did Suzlon Energy receive?
A: Suzlon Energy secured a large new order for its 3 megawatt series wind turbines from O2 Power Private Limited and Tech Green Power XI Private Limited.
5. How have Suzlon Energy’s shares performed in the past year?
A: Suzlon Energy’s shares have shown remarkable growth, with returns of around 110% so far in 2023 and a surge of 185% over the past year.
