Suzlon Energy crossed the Rs 1 lakh crore market capitalization mark as its shares remained on an intra-day bull run. Shares of the company rose 3.3% to a fresh 52-week high of Rs 75.39 on Friday, amid heavy trading volumes on the NSE. Nearly 5.83 crore shares worth Rs 433.5 crore changed hands. At 11:14 am, the stock was trading 2.4% higher at Rs 74.7 on the NSE.
The outperformance in the stock comes on the back of Suzlon’s strong set of Q1 FY25 results. Consolidated net profit was at Rs 302 crore, up 200% from Rs 101 crore in the same quarter last year. Revenue from operations also rallied 50% to Rs 2,016 crore, while EBITDA grew by 86% to Rs 370 crore. The EBITDA margin, too, has risen sharply to 18.4% from 14.8% a year ago.
In the last three months, Suzlon’s stock has appreciated almost 90 per cent; in the last one year, it surged by a whopping 280 per cent. If anything, what may come as a surprise is that this stock has gone up by almost 960 per cent in two years.
The acquisition is part of a deal approved recently by the company board to acquire 76 per cent stake in Renom Energy Services for an overall cost of around Rs 660 crore. This deal — envisages the initial acquisition of 51 per cent in cash within three months –, with another 25 per cent to be acquired in 18 months.
Suzlon Energy is one of the global leaders who provide renewable energy solutions. The installed capacity for wind energy ranges to 20.8 GW across 17 countries by this company. This Pune, India-based company comes under the category of vertically integrated organization with in-house research and development centers based in Germany, Netherlands, Denmark, and India.
On technical analysis, the stock has a relative strength index of 73.8 against overbought conditions. Suzlon shares are also trading above their 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day SMAs, thus engaged with significant momentum in the market.
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Source: Moneycontrol
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