Suzlon Energy Share Price Highlights: Suzlon Energy shares close below ₹75 mark on Friday

The stock recorded a buy quantity of 86,606, while sell quantity was nil

Suzlon Energy shares ended 1.33% lower on the NSE at ₹74.74 on Friday. 

The stock closed at ₹74.71 on the BSE, down by 1.37%.

The stock of Suzlon Energy traded at ₹74.75 on the NSE, down by 1.32%.

Suzlon Energy stock traded at ₹76.39 on the NSE, up 0.84% as at 12 noon. 

On the BSE, the stock traded at ₹76.60, up by 0.86%.

Suzlon shares inched up 0.20% on the NSE to ₹75.90 as at 11.04 am.

Track bl’s stock market live updates here

Suzlon shares traded at ₹73.59 on the NSE as at 10.29 am, lower by 2.85%.

​Suzlon Energy shares​ traded lower by 2.13% on the NSE at ₹74.14 as at 9.55 am.

​Shares of Suzlon Energy​ tanked 5 per cent to hit the lower circuit on Thursday following the receipt of advisory cum warning letters from the ​National Stock Exchange (NSE)​ and ​BSE​.

The letter pertains to Suzlon’s disclosure made on June 8, 2024, regarding the resignation of Marc Desaedeleer as independent director, to which the letter read that “the corporate governance standards applied by the company did not meet the expectations including situations were communications lacked the level of openness and transparency.”

“The disclosure for resignation letter of the independent director did not have any confirmation for the material reason.”

​Read more​

Madhu Balaji of businessline writes

Suzlon shares closed 4.99% higher on the NSE and BSE at ₹78.05.

Suzlon shares hit the upper circuit at ₹78.05 on the NSE, higher by 4.99% as at 12.59 pm.

The contract that underpins the​​ 1,166 MW order that Suzlon Energy​​ received today from ​​NTPC ​​Green is a “role model contract”, says Jayaram Prasad Chalasani, CEO, Suzlon. 

This is because the land is available, the power purchase agreement (PPA) is ready to be signed, and the balance of plant (BoP) contracts have been awarded (to other companies). As such, there will be no delay in executing the project, he said, speaking to businessline after the announcement of the order. 

​​Read more​​

Suzlon Energy today announced that it has bagged an order for wind turbines worth 1,166 MW – the country’s biggest – from NTPC Green Energy Ltd (NGEL), a subsidiary of the public sector energy behemoth, NTPC. 

While Suzlon has not disclosed the value of the order, the going price of a wind turbine in the market is around ₹6 crore, a MW.

This takes Suzlon’s cumulative order book close to 5 GW. 

This follows Suzlon recently qualifying in terms of net worth and other criteria, to participate in NTPC (and other PSU) tenders. 

Read more

Suzlon shares rose 4.14% on the NSE, trading at ₹77.42 as at 9.56 am.

Suzlon Energy shares closed at ₹74.95 and at ₹74.98 on the NSE and BSE, respectively, down by 1.38% each.

Suzlon Energy shares declined 1.84% on the NSE, trading at ₹74.60 as at 3.04 pm.

On the BSE, the stock was down 1.55% at ₹74.82

BSE Sensex plunged 1019.17 pts or 1.24% to trade at 81,181.99 as at 2.19 pm, and Nifty 50 fell 295.20 pts or 1.17% to 24,849.90.

Shares of Suzlon Energy stock declined 1.45% on the NSE to trade at ₹74.90 as at 12.12 pm.

On the BSE, the stock was down 1.49% to trade at ₹74.87.

Considering Suzlon’s increasing order book and the project sites, the decision to sell its large corporate office space appears both strategic and working-capital friendly. With the shift away from owning such extensive office facilities and planned sub-leasing of the property is likely to help the company in mobilizing more working capital for enhanced execution. The transaction, valued within the current market range of INR 7,500 to INR 9,500 per square foot in Pune’s Hadapsar area, seems fairly priced with annual rent under the lease of c. INR 450-500 mn (JMFe). With the company paying annual rent that is about 12% of the sale consideration, compared to FY24 ROE of 28%, investing in its core business is value-accretive. Overall, we view this transaction positively, recognizing its potential to strengthen Suzlon’s financial position and operational performance amid favorable market conditions and effective asset-light strategy.

Shares of Suzlon Energy declined 1.51% on the NSE, trading at ₹74.85 as at 10.42 am.

Track bl’s stock market live updates here

Renewable energy solutions provider Suzlon Group had monetised non-core assets worth Rs 440 crore. This move is part of Suzlon’s broader growth strategy of becoming asset-light and unlocking capital for growth to fund execution of its expanding order book with internal resources, a company statement said. Suzlon Group also announced disinvestment of its corporate headquarters One Earth. This sale and leaseback arrangement will not impact Suzlon’s operations, it said.

Suzlon Energy shares traded flat on the NSE at ₹75.63 as at 9.52 am.