Suzlon Energy Hits Fresh 52-week High with Orders of 1035.15 MW

On June 4th, 2024, the Indian benchmark indices started the day in the red, with the BSE Sensex Index down 2.70 per cent and the NSE Nifty-50 Index down 2.25 per cent. Amidst this market trend, one multibagger stock managed to stand out, gaining 4.34 per cent and hitting a fresh 52-week high of Rs 52.19 per share. Suzlon Energy Ltd, India’s leading renewable energy company, has secured significant orders for wind power projects totaling over 1,035.15 MW. These projects will utilize Suzlon’s advanced 3 MW wind turbine generators with a capacity of 3.15 MW each.

The company received orders from various entities, including Oyster Green Hybrid One Private Limited, Aditya Birla Group, and Juniper Green Energy, showcasing broad industry recognition. One of the notable orders is a massive 551.25 MW project from the Aditya Birla Group, involving 175 wind turbines in Rajasthan and Gujarat. The power generated from these projects will be utilized for internal consumption, benefiting several households and reducing carbon emissions significantly.

In addition to these orders, Suzlon also received new orders for 402 MW wind power projects from Juniper Green Energy. These projects will be set up in Rajasthan, contributing towards generating clean energy for a substantial number of households. Suzlon’s commitment to the renewable energy sector is further solidified by these orders, emphasizing the company’s dedication to providing clean and sustainable power solutions.

Suzlon Energy Ltd, with a market cap exceeding Rs 64,000 crore, has reinforced its position as a key player in India’s renewable energy sector. The company’s order book currently stands at 3.3 gigawatts, with the recent orders pushing it over 3.9 gigawatts. Foreign institutional investors (FIIs) and Domestic Institutional Investors (DIIs) have also shown increased interest, with their stake in the company rising compared to the previous year.

This impressive performance and growth trajectory of Suzlon Energy highlight the company’s strong position in the market and its potential for continued success. With a focus on renewable energy solutions and a robust order book, Suzlon is set to play a significant role in India’s sustainable energy future.