Suzlon’s stock witnessed the sale of 3.7 crore shares at Rs 77 each in large trades, following a major 1.17 GW order win from NTPC Green the previous day.
Suzlon’s stock surged by 5 percent, surpassing Rs 78 on Tuesday.
Suzlon’s stock experienced a major trading day with 3.7 crore shares changing hands at Rs 77 per share, just a day after the company secured a significant 1.17 GW order from NTPC Green.
On Tuesday, September 10, equity stakes worth Rs 254.3 crore in Suzlon Energy were traded through large deals, representing 0.3 percent of the company’s shareholding. According to CNBC-TV18, 3.7 crore Suzlon shares were traded at an average price of Rs 77 each.
Following the news, Suzlon’s stock surged by 5 percent to exceed Rs 78, as Morgan Stanley maintained an ‘Overweight’ rating with a target price of Rs 73 per share. This positive movement came a day after Suzlon announced a major 1.17 GW order win from NTPC Green Energy Ltd.
During the trading session, Suzlon’s share price reached an intraday high of Rs 78.05 on the NSE, marking a 5 percent increase from its previous close. The stock had opened with a 2 percent gain and rebounded after two days of declines.
At the time of this report, Suzlon’s stock was trading at Rs 77.88 per share on the NSE, up 4.76 percent. The recent price increase followed Morgan Stanley’s ‘Overweight’ rating and their share price target of Rs 73.
On Monday, Suzlon Energy announced it had secured the largest wind turbine order in India, worth 1,166 MW, from NTPC Green Energy Ltd (NGEL). Suzlon will supply the wind turbines, oversee the project’s erection and commissioning in Gujarat, and provide ongoing operations and maintenance services post-commissioning.
