Suzlon Stock Surges 5% on NTPC Order

10 Sep 2024 , 12:01 PM

Suzlon Energy shares rose 5% in Tuesday’s intraday session to a day’s high of Rs 78.05 on the BSE after the company received a 1,166 MW order from NTPC Green Energy.

Suzlon Energy has received a PSU order after a lengthy absence, as it was previously ineligible to compete due to a negative net worth. According to news reports, this huge deal provides Suzlon Energy with greater earnings visibility for F26-27.

Suzlon will install 370 S144 WTGs with a rated capacity of 3.15 MW each, generating enough electricity to power 30 lakh households. This is India’s largest wind energy order.

The project would be carried out across three sites in Gujarat, according to the company’s registration with the markets.

Suzlon will supply wind turbines, implement the project in Gujarat, and provide post-commissioning maintenance services.

Suzlon’s shares were also in attention recently when the company agreed to sell and lease back its premier real estate, One Earth Property, in Pune for Rs 440 crore for the next five years.

Suzlon’s shares have risen 223.5% in the last year, with a 102% return so far this year.

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