Suzlon Share Price: A Steady Rise and Promising Orders
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Suzlon Energy Company’s share price showed a significant surge of 4.32% during Thursday’s trading session, reaching Rs. 37.15. The company has been witnessing strong buying interest in its shares, especially after receiving some remarkable orders.
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Recently, the KP Group from Gujarat State placed an order for 193.2 MW capacity with Suzlon Energy Company. This order further boosts the company’s reputation as a major player in the global utility market. Prior to this, a prominent international utility company had also placed an order for a 100.8 MW wind energy project. Under this order, Suzlon Energy Company will install 32 wind turbine generators with a capacity of 3.15 MW each, featuring the new production hybrid lattice tubular tower.
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On Friday, 22nd December 2023, Suzlon Energy Company’s share price continued to rise, showing an impressive 0.94% increase and closing at Rs. 37.45. The recent order from the KP Group has helped improve the company’s stock price, which had previously experienced a dip. With this order, Suzlon Energy Company will supply 92 wind turbine generators with a capacity of 2.1 MW each. Additionally, the company will establish a total capacity of 293.32 GW in the Bharuch district and Vilayat regions of Gujarat State.
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Suzlon Energy Company’s promoters hold a 13.29% stake in the company. According to CFO Himanshu Modi, the company currently has a pending order for 1.6 GW capacity. Over the past six months, the company’s shares have provided investors with an impressive return of 163.93%. Furthermore, on a year-to-date basis, the company’s share price has increased by 245.33%. During this period, the share price of Suzlon Energy Company has risen from Rs. 10 to its current level. The company’s share reached a 52-week high of Rs. 44, after previously hitting a low of Rs. 6.96. The company’s total market capitalization stands at Rs. 49,962.23 crore.
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In the September 2023 quarter, Suzlon Energy Company recorded a 45% increase in its annual profit. During the quarter, the company achieved a net profit of Rs. 102 crore. Suzlon Energy Company also generated a revenue of Rs. 11,417 crore during this period, surpassing the revenue of Rs. 1,430 crore recorded in the same quarter last year.
Keep an eye on Suzlon Energy Company as it continues to make strides in the renewable energy sector, attracting investors and delivering impressive financial results.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
