URL copied to clipboard

Trending News

Suzlon Energy Shares Surge over 9% as Bidding for Tata Power’s 3-Gigawatt Wind Turbine Supply Heats Up – What’s Next?

Suzlon Energy shares surged over 9% to Rs 80.47 amid reports of bidding for a 3-gigawatt wind turbine supply contract from Tata Power, boosting competition in the wind energy sector.
Suzlon Energy Shares Surge over 9% as Bidding for Tata Power's 3-Gigawatt Wind Turbine Supply Heats Up - What’s Next?

Suzlon Energy shares rose over 9% to Rs 80.47 during Wednesday’s trading session on the BSE, driven by reports that the company is vying for bids to supply wind turbines to Tata Power. This increased interest follows Tata Power’s call for bids to supply turbines with a total capacity of 3 gigawatts, expected to invigorate the wind energy market and heighten competition among suppliers.

Alice Blue Image

Also Read: Hyundai Motor IPO to Raise Up to Rs 27,856 Crore in 2024’s Largest Stock Offering – Check All Details!

Key players in the bidding process include notable wind turbine manufacturers like Siemens Gamesa, Senvion India, Envision Energy, and Suzlon Energy. Tata Power’s large-scale order for wind turbines is viewed as a significant move to bolster India’s renewable energy sector. The competition generated by this bidding process may lead to the development of more cost-effective and efficient wind energy solutions.

Despite the positive momentum, Suzlon Energy recently received advisory warning letters from both the NSE and BSE concerning the resignation of Independent Director Marc Desaedeleer. His resignation raised concerns regarding the company’s corporate governance standards, particularly regarding the transparency and openness of communications.

Also Read: RBI Maintains Steady Repo, Upholds Growth and Inflation Projections for 2024-25 – Latest Insights from the MPC Meet!

As of 11:06 AM, Suzlon’s stock was trading at Rs 80.26, reflecting a 9% increase. The stock has surged by 109% in 2024 and 950% over the past two years, currently holding a market capitalization of Rs 1,09,663 crore.

From a technical standpoint, the stock’s relative strength index (RSI) stands at 40.7. An RSI below 30 indicates that a stock may be oversold, while an RSI above 70 suggests it may be overbought. Additionally, Suzlon shares are performing well, trading above several key simple moving averages (SMAs).

Loading
Submit the form, and get to know how you scored!!!
Read More News
NBFC स्टॉक उछला, हाउसिंग फाइनेंस यूनिट ₹3,929 करोड़ में Warburg Pincus को बेची गई!

NBFC स्टॉक उछला, कंपनी ने अपनी हाउसिंग फाइनेंस सहायक कंपनी को ₹3,929 करोड़ में Warburg Pincus को बेचा।

वित्तीय समूह ने हाउसिंग फाइनेंस सहायक कंपनी में 84.44% हिस्सेदारी ₹3,929 करोड़ में Warburg Pincus को बेचकर नई स्वामित्व के

टेक्सटाइल स्टॉक ने 16 दिसंबर, 2024 को इक्विटी शेयर अलॉटमेंट पर चर्चा के लिए बोर्ड मीटिंग की योजना बनाई है।

टेक्सटाइल स्टॉक 5% के लोअर सर्किट पर पहुंचा, कंपनी स्टॉक स्प्लिट पर विचार करेगी।

टेक्सटाइल स्टॉक ने शेयर अलॉटमेंट, कन्वर्टिबल वारंट्स और स्टॉक स्प्लिट पर चर्चा के लिए 12-18 दिसंबर, 2024 तक ट्रेडिंग विंडो