Suzlon Energy share price in focus after fresh order win from NTPC, 15% rally in two weeks. Is it a stock to buy?
Stock market today: Shares of renewable energy firm Suzlon Energy hogged the limelight in trade on Wednesday, April 23, after it bagged a new mega order of 378 MW from NTPC Green Energy, consolidating its partnership with the company.
“Furthering its strategic focus on building long‐term, high‐impact partnerships, Suzlon has just consolidated its largest partnership with NTPC Green Energy Ltd. (NGEL) to 1,544 MW, with a recent award win of a 378 MW wind energy project. This win strengthens Suzlon’s undisputed market leadership and commitment to sustainable, large‐scale growth,” Suzlon Energy said in an exchange filing today.
As part of the contract, Suzlon will supply 120 S144 Wind Turbine Generators (WTG) with Hybrid Lattice Towers (HLT), each with a rated capacity of 3.15 MW, and also undertake foundation, erection, and commissioning for the project and will provide maintenance and services.
This is the second order win for the company in less than a week. Earlier on Thursday, April 17, Suzlon Energy had bagged a 100.8 MW wind order from Sunsure Energy.
Suzlon Energy Share Price Trend
Despite this update, shares of Suzlon Energy continued to languish in trade on Wednesday, defying the strong trend in the Indian stock market.
