Suzlon Energy shares hit 5% upper circuit for 2nd day; surge 25% in seven sessions
Investors turned bullish on Suzlon Energy shares after it reported 200% growth in profit and 50% rise in revenue in Q1 FY25.
Investors turned bullish on Suzlon Energy shares after it reported 200% growth in profit and 50% rise in revenue in Q1 FY25.
The wind turbine manufacturer will supply 92 wind turbines with a rated capacity of 2.1 MW each.
Suzlon Energy has secured a new order to develop a 100.8 MW wind power project for a leading global utility company.
Shares of Suzlon Energy surged on Friday after the company secured an order for its 3 MW series turbines from Juniper Green Energy.
Dilip Shanghvi family and associate companies terminated shareholders' agreement with Suzlon, which was signed in February 2020.
The wind turbine manufacturer will raise up to ₹2,000 crore through qualified institutional placement.
The share price of wind turbine manufacturer has risen 235% in the last one year after hitting a 52-week low of ₹5.43 on July 28, 2022.
The funds raised through the rights issue will be used for repayment of a portion of outstanding borrowings and to meet general corporate purposes.