Suzlon Energy
shares jumped 5% on Thursday and hit an upper circuit of Rs 56.78, snapping a five-day losing streak. The rally in the wind power company’s stock is attributed to the optimism prevailing in the market over the company’s ongoing efforts to strengthen its position in the renewable energy space.
Suzlon’s positive momentum is driven by the recent significant order of 1,166 MW of wind power received from NTPC Green Energy. The deal has strengthened Suzlon’s order book, which now stands at a record 5.1 GW, driving revenue growth and stability.
With a strong order pipeline, Suzlon is well positioned for sustained growth and projected earnings over the long term.
On Wednesday, Suzlon Energy closed 9% lower on the BSE amid market volatility and concerns over rising input costs and competition in the wind turbine manufacturing industry, as well as the resignation of Suzlon’s new business CEO Ishwar Chand Mangal on November 8.
Mangal, who was with the company for nearly 28 years, stepped down to pursue new opportunities.
However, Thursday’s recovery shows that investor sentiment remains largely positive, driven by the company’s strong order book and India’s growing trend towards renewable energy.
Suzlon Energy reported a remarkable 95.72% year-on-year rise in its second quarter net profit for FY25, reaching Rs 200.20 crore compared to Rs 102.29 crore in the same period last year.
