Suzlon Energy shares hit 5% upper circuit limit, snap 3-day losing run

Shares of Suzlon Energy Ltd snapped a three-day losing run, as investors judged the recent selloff as excessive. The stock, which had fallen 12 per cent in the three-day selling, climbed 5 per cent to hit its upper circuit limit at Rs 39.18 on BSE. There were buy orders of 11,06,948 Suzlon shares against sell orders of 25,981 shares.

The Suzlon Energy management at JM Financial India Conference 2023 on November 21 said it was focusing on its non-EPC orders, in addition to in built operations and maintenance services (O&M) contracts.

Suzlon Energy, which  was among 65 companies presented on Day 1 of the conference, said its share of orders from the Commercial & Industrial (C&I) segment has jumped to 64 per cent in the September quarter from 55 per cent in the June quarter, thanks to higher activity in the C&I segment.

Suzlon Energy, JM Financial suggested, said its service business continued to do well with a total of 14.3GW capacity under service. The renewable energy solutions provider cited healthy and diversified order book, suggesting Suzlon Energy has an order book of 1.6 GW as on September 30. Out of this, 62 per cent of Suzlon Energy's orders were for its 3- MW turbines. The supply of these turbines would begin from Q42024, JM Financial, which later released the key takeaways from its interaction with the Suzlon Energy management, suggested.

Suzlon Energy shares weas recently in news after the company informed stock exchanges about its RLMM listing of its 3-MW series of wind turbines. The development  would pave way for commercialisation of the said product.

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