Suzlon Energy shares in focus today on latest feat in wind energy installations

Shares of Suzlon Energy Ltd nearly touched their 52-week high in early deals today after the renewable energy solutions firm said it has surpassed 20 GW in wind energy installations. The stock rose 6.30% to Rs 12.14 today. Turnover and volumes were high for the stock with 542.33 lakh shares changing hands amounting to a turnover of Rs 64.39 crore. Market cap of the firm rose to Rs 14,383 crore. Suzlon Energy stock hit a 52-week high of Rs 12.19 on December 20, 2022.  

In the last session, the stock ended over 4 percent higher at Rs 11.50. 

In terms of technicals, the relative strength index (RSI) of Suzlon Energy stock stands at 73.3, signaling it's trading in the overbought zone. The stock has a beta of 1.5, indicating very high volatility in a year. Suzlon Energy stock is trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.   

The company said 20 GW wind energy installations were accomplished through the deployment of 12,647 wind turbines across 17 countries, spanning six continents. Suzlon holds a 33 percent share of India's cumulative wind energy installations. 

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Suzlon said the 20-GW wind energy installations were sufficient to supply green electricity to over 13 million Indian households. 

"Suzlon remains committed to partnering with global and local players to accelerate the global energy transition towards a carbon-neutral future while also addressing India's energy needs," said Girish Tanti, Vice Chairman of Suzlon Group. 

Suzlon Energy is a provider of renewable energy solutions. The company is a producer of wind turbines. It offers a range of solar energy solutions, such as solar irradiance assessment, land acquisition and approvals, infrastructure and power evacuation, supply chain, installation and commission and life cycle asset management.  

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