On Wednesday, October 9, Suzlon Energy's shares surged 9.3 per cent to Rs 80.59 apiece on the NSE (National Stock Exchange). The company's stock upper circuit filter was reportedly revised from 5 per cent to 10 per cent, according to reports.
Over the last year, the company's shares have returned a multibagger. Over the past five years, the stock has increased by 3,188 per cent and 189 per cent, respectively.
Following the stock's removal from the Additional Surveillance Measure (ASM) framework, the price band has been adjusted.
75 per cent stake in Renom Energy
In August 2024, Suzlon Energy announced that it would pay Sanjay Ghodawat Group Rs 660 crore in two tranches for a 76 per cent share in Renom Energy Services.
In the first tranche, a 51 per cent stake will be acquired for Rs 400 crore, according to a company statement. In the second tranche, the company plans to acquire a further 25 per cent stake for Rs 260 crore within 18 months of the first tranche's acquisition.
Suzlon's total power order book
As of September 3, 2024, Suzlon's cumulative order book has increased to about 5 GW thanks to this order win.
Previous order win
The supplier of renewable energy solutions announced in September that it had secured an order for 1,166 MW, India's largest wind energy order, from NTPC Green Energy Ltd.
According to a company statement, Suzlon will install a total of 370 wind turbine generators (WTGs) of S144 equipped with a hybrid lattice tubular (HLT) tower and a rated capacity of 3.15 MW each at two projects in Gujarat: one project of Indian Oil and NTPC Green Energy Pvt Ltd, a group company of NGEL, and one project of NTPC Renewable Energy Limited, a wholly-owned subsidiary of NGEL.
With assets of 1,782 MW in wind, 148 MW in solar, and 572 MW in BOP under maintenance across customer segments, Renom is the largest multi-brand operations and maintenance service provider in the nation, according to the statement.
