Shares of Suzlon Energy were trading on a flat note even as Suzlon Group announced a new order win for the development of a 81.9 MW wind energy project from Oyster Green Hybrid One. Suzlon will install 26 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each at the client’s site in Agar in Madhya Pradesh.
The order relates to the company's larger rated 3.15 MW, S144-140m turbines from the 3 MW product series. As part of the agreement, Suzlon will supply the wind turbines (equipment supply) and execute the project including erection and commissioning. Suzlon will also undertake comprehensive operations and maintenance services post-commissioning.
The stock was trading flat at Rs 45.30 today. Market cap of the firm slipped to Rs 61,625 crore on BSE. A total of 10.36 lakh shares of the firm changed hands amounting to a turnover of Rs 4.65 crore on BSE.
Suzlon Energy shares have a beta of 0.9, indicating low volatility in a year. In terms of technicals, the relative strength index (RSI) of the stock stands at 58, signaling it's trading neither in the overbought nor in the oversold zone.
Suzlon Energy stock is trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day 150 day and 200 day moving averages. Suzlon Energy shares fell to a 52-week low of Rs 10.86 on June 2, 2023 and rose to a 52 week high of Rs 50.72 on February 2, 2024.
Vivek Srivastava, Chief Executive Officer, India Business, Suzlon Group, said, “We are happy to announce our first order with Oyster Green Hybrid One Private Limited, an Indian Independent Power Producer (IPP) of great repute. We welcome Oyster to the Suzlon experience and thank them for trusting in our leading technology and comprehensive capabilities throughout the wind energy value chain. We appreciate the faith that our customers place in the quality and reliability of our technology and service solutions. The electricity generated from this project will target the C&I customer segment, creating a deeper penetration of renewable energy in India. At Suzlon, we are deeply committed to powering the industry with sustainable green energy to power their progress while meeting their net-zero ambitions.”
Suzlon Energy is a provider of renewable energy solutions. The company is a producer of wind turbines. It offers a range of solar energy solutions, such as solar irradiance assessment, land acquisition and approvals, infrastructure and power evacuation, supply chain, installation and commission and life cycle asset management.