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Shares rose thanks to Suzlon Energy’s new project
There is renewed commotion in the wind energy sector. Suzlon Energy has received a large order that has a significant impact on its share price. According to reports, Suzlon Energy has received an order of 81.9 MW from Oyster Green Hybrid One Pvt Ltd, leading to a 1% increase in the company’s shares. Currently, Suzlon shares are trading around ₹46 and brokerage firms have suggested buying the shares.
Know the details of the order
According to information from the Indian Stock Exchange Board, Suzlon Energy has received a major order for a major project. The project will have a capacity of 81.9 MW, using only 3 MW series turbines. Suzlon will supply 26 wind turbines for this project, each with a capacity of 3.1 MW.
The installation of this project will take place in Agar, Madhya Pradesh where the electricity produced will be supplied to commercial and industrial customers under the captive model. This project will provide electricity to 67,000 homes and reduce 2,66,000 tonnes of CO2 emissions annually.
Suzlon Energy stock recommendation
Domestic brokerage firm Motilal Oswal has given a strong buy rating for Suzlon Energy. He has set a target price of ₹51 and a stop-loss of ₹42. On February 2, Suzlon Energy’s share price had hit a 52-week high of ₹51. Motilal Oswal’s recommendation shows strong conviction that aims for a strong target price while providing a clear stop-loss for investors.
conclusion
Suzlon Energy’s new order with Oyster Green Hybrid One Private Limited is an important milestone reflecting the company’s growing presence in the wind energy sector. Suzlon is rapidly expanding its energy supply capabilities with the installation of a 3.1 MW turbine in Madhya Pradesh. Investors are advised to consider purchasing Suzlon shares for which Motilal Oswal has set an optimistic target that reflects the potential for growth and stability in Suzlon’s market performance.
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