Suzlon Energy Share Price: Suzlon shares rally 5% as Morgan Stanley takes overweight stance after NTPC order win

Suzlon has gained a PSU order after a long time as in the past, since it had a negative net worth, it was ineligible to bid and according to the global brokerage firm, this large contract offers improved earnings visibility for F26-27 for Suzlon Energy.

The order requires Suzlon to install 370 S144 WTGs with a rated capacity of 3.15 MW each which will generate electricity that will power 30 lakh households and is India’s largest wind energy order.

The project will be executed across 3 sites in Gujarat, according to the company’s filing to the exchanges.

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As part of the agreement, Suzlon will supply the wind turbines (equipment supply) and execute the project, including erection and commissioning, in Gujarat as well as undertake operations and maintenance services post‐commissioning.

Suzlon shares were also in focus recently when it entered into an agreement to sell and lease back its prime real estate, One Earth Property, in Pune for the next five years at Rs 440 crore. On this update, domestic brokerage firm ICICI Securities raised its target price for the stock to Rs 80 from the earlier Rs 70.

The shares of Suzlon have surged 223.5% in the last one year while giving 102% returns in the current calendar year so far.

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