Why Suzlon Energy shares have surged 10% in 2 sessions
Suzlon Energy surged 5% to reach a day's high of Rs 81.95 on the NSE on Wednesday, marking the second consecutive session of gains and a total increase of over 10% in the two-day rally. The positive investor sentiment is driven by Morgan Stanley's overweight stance on the renewable energy sector.
The stock was trading with strong volumes, with nearly 7.6 crore shares changing hands on the NSE around 10 a.m. The total traded value was Rs 617 crore. The stock is nearing its 52-week high of Rs 84.29.
The stock has also surpassed Morgan Stanley's target price of Rs 73 following Suzlon's receipt of a 1,166 MW order from NTPC Green Energy. This marks Suzlon’s return to securing PSU orders after a long period of ineligibility due to its negative net worth. According to the global brokerage, this substantial contract enhances earnings visibility for Suzlon Energy for FY26-27.
The order requires Suzlon to install 370 S144 wind turbine generators (WTGs), each with a rated capacity of 3.15 MW. This project, which will power 3 million households, is India’s largest wind energy order. The installation will take place across three sites in Gujarat, according to the company’s filing with the exchanges.
As part of the agreement, Suzlon will supply the wind turbines and handle project execution, including erection and commissioning, in Gujarat. The company will also provide operations and maintenance services post-commissioning.
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