Suzlon Energy Share Price: On Thursday, December 21, the shares of the massive wind power company Suzlon Energy saw a sharp rebound as soon as the order was received. Over 4% of Suzlon’s shares increased throughout the trading session. Lower circuit had occurred during the previous trading session. KP Group has placed an order with Suzlon for a 193.2 MW wind power project. Following this announcement, investors rushed to purchase equities. In 2023, this stock is still extremely high. This year, the stock has returned around 250 percent.lets dive into it.
Suzlon Energy: Big order of 193.2 MW
On Thursday, Suzlon Energy announced to the stock market that it has been awarded a new contract by KP Group to create a wind power project with a capacity of 193.2 MW. This is a component of the STU (State Transmission Utility) tariff-based Wind Solar Hybrid project, which aims to enhance Gujarat’s share of renewable energy.
Gujarat’s Bharuch district will receive 92 S120 2.1 MW Wind Turbine Generators (WTGs) from Suzlon for Vajra and Vilayat. A 140-meter hybrid lattice tubular (HLT) tower will be used. Suzlon will handle the commissioning, supervision, and supply tasks for this project. In addition, even after commissioning, the business will assume responsibility for operation and maintenance services.
250% returns so far in 2023
In the past year, Suzlon Energy shares have shown themselves to be a multibagger. As of today, December 21, 2023, the returns for 2023 have exceeded 245 percent. Over the past six months, the return has been 165%. The stock closed at 35.65 on Wednesday with a lower circuit.
On December 21, 2023, the company’s market capitalization on the BSE was around Rs 50,098 crore. The stock rose sharply during Thursday’s first trading session as soon as the order was received. The stock increased by roughly 4.4%. Suzlon’s balance sheet is now debt-free, let us inform you that. The biggest player in the wind energy market is Suzlon Energy. In the home market, the corporation holds a 33 percent market share.
Energy company joins hands with government company
The largest provider of renewable energy solutions in the nation, Suzlon Group (Suzlon Energy Ltd.), partnered with government-owned enterprise REC. Following that, the energy company’s shares saw a sharp increase. Suzlon Group received a sizable order from REC (Suzlon Energy Ltd Share). which the business will use to cover its working capital needs both now and in the future.
Why did the partnership happen?
Suzlon Energy Ltd. stated in a statement that the partnership’s goal is to supply working capital as needed in the future. The group’s current goal is to increase its expertise and reach. Suzlon Group currently states that it offers wind energy services in 17 different nations.
Regarding this collaboration, the CFO of Suzlon Group stated that they will gain from REC’s experiences in the power and renewable energy industries. A Maharatna firm is REC. This is overseen by the Ministry of Energy.
Disclaimer
There are market dangers associated with stock market investing. Here, investing in shares is not recommended. Before making an investment, speak with your advisor.
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Conclusion
In conclusion, the recent surge in Suzlon Energy’s share price underscores the market’s positive reception to its new contract with KP Group. The 193.2 MW wind power project not only signifies a substantial addition to Suzlon’s portfolio but also amplifies Gujarat’s commitment to renewable energy. For potential buyers, the stock’s impressive performance in 2023, coupled with its strategic partnerships, suggests a promising trajectory in the renewable energy sector. Investing in Suzlon Energy appears to align with the growing global emphasis on sustainable solutions.
