DIIs Bought 4,00,34,002 Shares: Power Stock At Rs 55-Suzlon and Torrent Power Achieve 1 GW Wind Energy Milestone with a New 486 MW Order

In December 2024, DIIs bought 4,00,34,002 shares and increased their stake to 9.31 per cent compared to 9.02 per cent in September 2024.

On Friday, shares of Suzlon Energy Ltd gained 1.28 per cent to Rs 54.99 per share from its previous closing of Rs 54.31 per share. The stock’s 52-week high is Rs 86.04 and its 52-week low is Rs 35.50.

Suzlon Group and Torrent Power Ltd. have achieved a significant milestone in their partnership, collectively powering 1 GW of wind energy for India. This achievement is further solidified with a new 486 MW hybrid order. This strategic collaboration reflects a shared vision between the two companies to accelerate India's renewable energy transition and aligns perfectly with the nation's ambitious goal of deriving 50 per cent of its electricity from renewable sources.

This collaboration plays a crucial role in supporting India's "Make in India" initiative by promoting the domestic manufacturing and deployment of renewable energy technologies. By leveraging Suzlon's advanced wind turbine technology, this project will contribute significantly to India's energy independence and sustainable development.

Under the terms of the agreement, Suzlon will supply 162 state-of-the-art S144 wind turbine generators (WTGs) equipped with Hybrid Lattice (HLT) Towers. Each WTG has a capacity of 3 MW and will be installed in the Bhogat region of Gujarat. This project showcases the cutting-edge technology and innovative solutions that Suzlon offers to the renewable energy sector.

The successful execution of this project will not only contribute to India's clean energy targets but also demonstrate the potential of hybrid energy solutions in enhancing grid stability and optimizing energy generation. This collaboration between Suzlon and Torrent Power serves as a model for other industry players, encouraging further investment and innovation in India's renewable energy landscape.

About Suzlon Energy Ltd

The Suzlon Group is a leading global renewable energy solutions provider, with approximately 20.9 GW of wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India, the Group includes Suzlon Energy Limited (NSE: SUZLON, BSE: 532667) and its subsidiaries. A vertically integrated organisation, Suzlon has in-house R&D centres in Germany, the Netherlands, Denmark, and India, and world-class manufacturing facilities across India. with 29 years of operational excellence and a diverse workforce of over 7,700 employees, Suzlon is India’s No. 1 Renewable Energy Solutions company, managing 15 GW of assets and an additional 6 GW installed outside India. Its portfolio includes the advanced 2.x MW and 3.x MW series of wind turbines.

According to Quarterly Results, the net sales increased by 48 per cent to Rs 2,093 crore, EBITDA increased by 31 per cent to Rs 294 crore and net profit increased by 96 per cent to Rs 201 crore in Q2FY25 compared to Q2FY24. In its annual results, the net sales increased by 9.4 per cent to Rs 6,529.1 crore and net profit decreased by 77 per cent to Rs 660.35 crore in FY24 over FY23. The company maintained a robust financial position with a net cash balance of Rs 1,277 crore as of September 30, 2024.

Suzlon Energy Ltd is a mid-sized company in the power sector, listed on the Bombay Stock Exchange (BSE) & National Stock Exchange (NSE) with a market capitalization surpassing Rs 72,000 crore. The company is also included in the BSE's Power Index, reflecting its focus on the power industry. In December 2024, DIIs bought 4,00,34,002 shares and increased their stake to 9.31 per cent compared to 9.02 per cent in September 2024. The stock gave multibagger returns of 450 per cent in 2 years and a whopping 2,200 per cent in 5 years. Investors should keep an eye on this mid-cap power stock.

Disclaimer: The article is for informational purposes only and not investment advice.