Suzlon Energy, IRFC shares tank amid huge volumes; RVNL stock sees high turnover

Shares of Suzlon Energy, Indian Railway Finance Corporation Ltd (IRFC), RattanIndia Power, GTL Infrastructure and Jaiprakash Power Ventures Ltd (JP Power), among others, saw high volumes on NSE in Wednesday's trading session.

Suzlon Energy topped the volume chart on NSE. The stock tanked 4.39 per cent to Rs 21.80, as 8,53,59,021 shares worth Rs 187 crore changed hands on the counter on the exchange by 10 am. Kotak Institutional Equities in a note said its reverse-valuation analysis based on current market capitalisation suggests that Suzlon Energy will need to deliver 5-8 GW of annual wind turbine capacity to justify its current stock price.

"We note that the government has set a target of adding 8 GW of wind capacity annually until FY2030, to meet its renewable targets. As such, Suzlon will need to gain significant market share in the wind generation sector, to meet the current market expectations," it said.

IRFC shares fell 3.02 per cent to Rs 80.30 on NSE. A total of 7,64,95,832 IRFC shares worth Rs 627 crore changed hands so far. RattanIndia Power shares plunged 4.41 per cent to Rs 6.50, as 6,34,63,571 shares worth Rs 41.40 crore changed hands. Shares of GTL Infra gained 5.82 per cent to Rs 72.75. A total of 8,23,58,216  GTL Infra shares worth Rs 9 crore changed hands so far.

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JP Power gained 2.3 per cent to  Rs 8.70. A total of 5,22,36,676 company shares changed hands worth Rs 55 crore. Vodafone Idea, Reliance Power, RVNL, SJVN, YES Bank and Zomato were among stocks that saw high volumes in Wednesday's trade.

In terms of turnover, RVNL, IRFC and HDFC Bank led the chart. RVNL saw a turnover of Rs 754 crore while HDFC Bank witnessed a turnover of Rs 517 crore. It was followed Reliance Industries (Rs 366 crore), Mazagon Dock Shipbuilders (Rs 333 crore) and SJVN (Rs 316 crore). Zomato, ICICI Bank, Larsen & Toubro and Cochin Shipyard were among other stocks seeing high turnover in Wednesday's trade.

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