Suzlon’s stock surged 5% for the fourth straight session after hitting the upper circuit on February 1. The company’s 4.7 crore shares were traded on the BSE and NSE until 9.35 a.m.
Suzlon Energy Stock Rises 5% for 4th Consecutive Session Ahead of Budget 2025
Suzlon’s stock surged 5% for the sixth straight session after hitting the upper circuit on February 1. For the fourth consecutive session, the stock was trapped in the upper circuit before the budget.
The shares of the firm that provides renewable solutions were up 5% at Rs 61.06 per share on the NSE at around 10:05 AM. Up till 10 AM, many shares with block trades totaling Rs 260 crore changed hands.
In anticipation of significant government initiatives to strengthen India’s renewable energy sector, the stock saw high activity. Any capital expenditures or announcements might increase investor interest in the industry. The budget will be presented in the Parliament by Union Finance Minister Nirmala Sitharaman at 10:00 AM.
Due to increased revenues, Suzlon recorded a 91 percent increase in consolidated net profit for the December quarter, reaching Rs 388 crore. According to a business statement, it reported a net profit of Rs 203 crore during the same time previous year.
From Rs 1,553 crore to Rs 2,969 crore, net revenue grew from the previous year. Additionally, during the October–December 2024 period, the business had its largest quarterly deliveries ever, totaling 447 MW. Its Puducherry and Daman Nacelle plants were upgraded, increasing its manufacturing capacity to 4.5 GW.
The commercial and industrial (C&I) and public sector unit (PSU) divisions accounted for 80% of the company’s order book, which hit a record high of 5.5 GW.
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