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Suzlon Energy Share Price: With a notable increase of up to 8.3% during intraday trading on Monday, Suzlon Energy stood out among the stock market's overall upswing. Strong fundamentals and positive sectoral developments combined to push the stock to a high of ₹59.70 from its previous close of ₹55.08. A big order win supports Suzlon's stock's recent surge.

Suzlong Bags 100.08 MW Wind Energy Order

The company announced a 100.8 MW EPC (Engineering, Procurement and Construction) wind energy order from SunSure Energy in an exchange filing on April 17. The project will be developed in Maharashtra's Jath region and will be SunSure's first venture into wind energy. Suzlon has gained in the last two trading sessions, which is indicative of rising investor confidence.

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The rally in the renewable energy sector stocks is also fueled by Modifications to the procedure for adding and updating wind turbine models in the Revised List of Models and Manufacturers (RLMM) have been proposed by the Ministry of New and Renewable Energy (MNRE). This draft notification is seen by market participants as a step that could help Suzlon and other renewable energy companies increase their market share in the near to mid-term.

Suzlon Energy Share Performance

Suzlon has performed admirably during the last 12 months. The stock has increased 20% since March, including a 4% gain in April after a 14% increase in March. With a 52-week high of ₹86.04 on September 12 and a low of Rs 37.95 on May 13, it has increased by more than 51% in the past 12 months.

Suzlon continues to attract a lot of interest from investors, especially retail investors. In the March quarter, their stake increased from 24.49% at the end of December to 25.12%. Domestic mutual funds reduced their holdings from 4.44% to 4.17%, while foreign portfolio investors (FPIS) remained stable at about 23%.

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Disclaimer: This is just a piece of information about recent developments in shares. Jagran does not advise investing. Please do take expert opinion before investing.