Power Sector Stock Under Rs 25 Locked In Upper Circuit, Hits New 52-Week High

Shares of small cap company Suzlon Energy hit multiple upper circuits in last few days after the company received two back to back orders. Current market price of Suzlon Energy share is Rs 23.49 apiece with intraday gain of 4.96%. Suzlon Energy stock rallied 135% in last 3-months only. Check details below:

Suzlon Energy Bags New Orders: According to the BSE filing of Suzlon Energy dated August 24, Suzlon Group announced a new order win for the development of a 31.5 MW wind power project for Integrum Energy Infrastructure Private Limited. Suzlon will install 15 units of their S120 - 140m wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 2.1 MW each in Maharashtra and Karnataka. The project is expected to be commissioned in May 2024. JP Chalasani, Chief Executive Officer, Suzlon Group said, "We are delighted to announce our second order with Integrum Energy Infrastructure Private Limited. Suzlon takes pride when valued customers like Integrum Energy, one of India's fast‐growing renewable energy Project Management companies trusts us with a repeat order.

Anand Lahoti, Founder and Chief Executive Officer, Integrum Energy Infrastructure Private Limited said, "At Integrum Energy Infrastructure Private Limited, we are committed to shaping a sustainable and carbon neutral India."

The company on August 25 announced yet another order win and stated in its BSE filing, "Suzlon Group announced a significantly large new order acquisition for its 3 MW series of wind turbines from Teq Green Power XI Private Limited, part of O2 Power Private Limited. Suzlon will install 64 of its largest wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each for the 201.6 MW wind power project. The project is expected to be commissioned in 2025."

Suzlon Energy Stock Performance & Return: The last trading price of Suzlon Energy share is Rs 23.49 apiece. Its 52-week high price is Rs 23.49 apiece and 52-week low price is Rs 6.60 apiece, respectively. Its market capitalisation is Rs 31,861.98 crore. In last 6-months, Suzlon Energy shares gained 186%, soared 211% in last 1-year, jumped 329% in last 2-years, and rallied 565% in last 3-years.

About: The Suzlon Group is one of the leading renewable energy solutions providers in the world with more than 20 GW* o f wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India; the Group comprises of Suzlon Energy Limited and its subsidiaries.

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The stock just highlights the rally in last few days and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.