Suzlon Energy shares continued their upward momentum in the stock market today, reaching a 5% upper circuit. Investor sentiment was buoyed by Morgan Stanley’s reaffirmation of its ‘overweight’ rating and the company’s recent wind power order from NTPC Green Energy. Over the past 12 months, Suzlon Energy shares have gained an impressive 241%, tripling investors’ capital, while the Nifty rose by 28%.
On September 11, Suzlon Energy shares surged 5%, hitting the upper circuit as they gained traction following the reaffirmation of Morgan Stanley’s rating after the company secured India’s largest wind power order from NTPC’s subsidiary, NTPC Green Energy.
In the fiscal year 2023-24, Suzlon raised nearly ₹1,500 crore for debt settlement, turning net worth positive for the first time in a decade. This attracted significant buying interest, including major investments from BlackRock. Between April 2023 and September 2024, Suzlon’s stock has multiplied 9 times, while its market capitalization skyrocketed from ₹10,000 crore to over ₹1 lakh crore. During this period, Suzlon’s order book also expanded 8 times, bolstered by major orders such as the one from NTPC Green Energy.
ICICI Securities recently raised its target price for Suzlon Energy to ₹70-80, maintaining a ‘buy’ rating due to the stock’s strong performance. They value Suzlon at 50 times its FY2026 earnings and noted the company’s plans to use raised capital to expand execution capacity and secure further orders, as outlined in its April 2022 strategy to sell core assets.
At 9:33 a.m., Suzlon shares were locked at the 5% upper circuit, trading at ₹81.95 on the National Stock Exchange. Year-to-date, the stock has gained 112%, significantly outperforming the Nifty’s 14% return.”**
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