Equity stakes worth Rs 254.3 crore in Suzlon Energy were sold through large deals in the morning trade on Tuesday, 10 September, amounting to 0.3 percent of the company’s shareholding. CNBC-TV18 reported that 3.7 crore shares of Suzlon changed hands at an average price of Rs 77 per share.
Suzlon’s stock jumped 5 percent on Tuesday to surpass Rs 78, as Morgan Stanley maintained an 'Overweight' rating on the stock with a target price of Rs 73. This comes a day after Suzlon secured a significant 1.17 GW order from NTPC Green.
Suzlon share price hit an intraday high of Rs 78.05 apiece on the NSE, rising 5 percent from its previous close. The stock had opened with a gain of 2 percent in today's session. The share price has gained after two days of consecutive fall.
At the time of publishing, the stock was trading at Rs 77.88 per share on the NSE, up 4.76 percent.
The sharp uptick in the price was witnessed after analysts at the global brokerage Morgan Stanley tagged an 'Overweight' rating on the stock, recommending a share price target of Rs 73 per share.
Suzlon Energy on Monday announced that it bagged an order for wind turbines worth 1,166 MW – the country’s biggest – from NTPC Green Energy Ltd (NGEL).
As part of the order, Suzlon will supply the wind turbines and execute the project, including erection and commissioning, in Gujarat as well as undertake operations and and maintenance services post-commissioning.
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