Why Suzlon Energy shares have surged 10% in 2 sessions

On Wednesday, Suzlon Energy shares jumped 5% to a day’s high of Rs 81.95 on the NSE, marking the second consecutive session of gains and a total rise of over 10% in the past two days. This positive momentum is attributed to Morgan Stanley’s overweight rating on the renewable energy sector.

The stock saw robust trading activity, with nearly 7.6 crore shares exchanged on the NSE around 10 a.m., amounting to a total traded value of Rs 617 crore. The stock is approaching its 52-week high of Rs 84.29.




As part of the agreement, Suzlon will supply the wind turbines and handle project execution, including erection and commissioning, in Gujarat. The company will also provide operations and maintenance services post-commissioning.

Suzlon shares were also in focus recently due to the company's agreement to sell and lease back its prime real estate, One Earth Property, in Pune for the next 5 years at Rs 440 crore. Following this update, domestic brokerage firm ICICI Securities raised its target price for the stock to Rs 80 from the previous Rs 70.

The shares of Suzlon have surged by 223.5% over the past year and have delivered a 102% return so far in the current calendar year.

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