Suzlon Energy shares gain on order win from Aditya Birla Group

Shares of Suzlon Energy gained over 4% in early deals today after the firm said it won an order for  the  development  of  551.25 MW  wind  power  project  from Aditya  Birla  Group. Suzlon Energy shares gained 4.52% to Rs 45.95 on BSE today. Market cap of the firm rose to Rs 62,441 crore. Total 25.39 lakh shares of Suzlon Energy changed hands amounting to a turnover of Rs 11.36 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 54.5, signaling it's trading neither in the overbought nor in the oversold zone.

Suzlon Energy stock is trading higher than the 10 day, 20 day, 30 day, 50 day, 100 day, 150 day,  and 200 day moving averages The new order win  for  the  development  of  551.25 MW  wind  power  project  for  the  Aditya  Birla  Group.

Suzlon will install 175 wind turbine generators  (WTGs) with a Hybrid Lattice Tubular  (HLT) tower and a rated capacity of 3.15 MW each at sites in the Barmer district in Rajasthan and Bhuj district in Gujarat.

Girish Tanti, Vice Chairman, Suzlon Group, said, "We are delighted to partner once again with the Aditya Birla Group for this order. Suzlon admires and shares the value of nation building with the Aditya Birla Group and welcomes this opportunity to power them with sustainable energy. We applaud ABG's visionary approach to power operations across its group companies with  renewable energy and set an example  for India Inc. Suzlon's  comprehensive  and  proven  product  portfolio,  customised  for  the  Indian  wind  regime,  will  be instrumental  in  ramping  up  India's  renewable  energy  capacities  in  line  with  our  national  targets  while powering the Indian industry with green energy." 

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.