Suzlon Energy shares fall despite scaling 1 GW milestone with Torrent Power

Shares of Suzlon Energy Ltd slipped 4% on Friday after the renewable energy provider said Suzlon Group and Torrent Power Ltd. are now  powering  1  GW  of  wind  energy  for  India  with  a  new  486  MW  hybrid  order.  However, the multibagger stock slipped 4.03% to Rs 52.13 in the current session against the close of Rs 54.32 on Thursday. Market cap of the firm slipped to Rs 71,786 crore.

Suzlon Energy stock has climbed 27% in a year and gained 444% in two years. The multibagger stock clocked a turnover of Rs 47.17 crore as 89.24 lakh shares changed hands on BSE in today’s session. 

The stock rose to a 52 week high of Rs 86.04 on September 12 this year and fell to their 52-week low of Rs 35.49 on March 14, 2024. Suzlon Energy shares have a beta of 1, indicating average volatility in a year. Suzlon Energy stock is trading lower than its 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages, which indicates its bearish movement in terms of price action in both short and the long term.

"This  strategic collaboration  is  pivotal  in  supporting  India’s  ambitious  target  of  achieving  50%  of  electricity  from renewable sources and strengthening the Make in India initiative. Under the agreement, Suzlon will supply 162 state-of-the-art S144 wind turbine generators (WTGs) with Hybrid Lattice (HLT) Towers, each rated at 3 MW capacity in the Bhogat region in Gujarat, " said Suzlon Energy.