The stock has jumped nearly 4 percent in the early morning deals on the BSE.
After Wednesday's significant losses, Suzlon Energy opened 1.4 percent higher at Rs. 21.10 on the back of winning an order for a 90.30 MW turnkey project from its existing customer, ReNew Power.
The stock so far has jumped 3.8 percent to a high at Rs. 21.60 and is now up 1.7 percent at Rs. 21.15.
The BSE counter has seen trades of around 997,000 shares, as against two-week daily average volume of 7.6 million shares.
On Wednesday, the stock ended with a loss of 9.4 percent at Rs. 20.80.
Mr Tulsi Tanti, Chairman, Suzlon Group said, “Suzlon & ReNew share a common resolve to enhance India’s renewable energy portfolio and have successfully collaborated in the past few years. We are glad to once again partner with ReNew. It is a testament of ReNew’s confidence in our product portfolio, project execution capabilities & life cycle asset management services.
India is a lucrative market for wind energy, specifically with government’s thrust on renewable and the target of 60GW by 2022. This requires an average of over 5 GW of annual market size for the next 7 years, which is more than double the current market size. Given the positive change in the Indian renewable energy landscape, our focus this year is to cater to Indian market and enhance our market share. Our technological prowess, best-in class service, pan-India presence and over 18 years of sustained market leadership give us the competitive edge and the leverage to tap the growth opportunities in India.”
The stock so far has jumped 3.8 percent to a high at Rs. 21.60 and is now up 1.7 percent at Rs. 21.15.
The BSE counter has seen trades of around 997,000 shares, as against two-week daily average volume of 7.6 million shares.
On Wednesday, the stock ended with a loss of 9.4 percent at Rs. 20.80.
Mr Tulsi Tanti, Chairman, Suzlon Group said, “Suzlon & ReNew share a common resolve to enhance India’s renewable energy portfolio and have successfully collaborated in the past few years. We are glad to once again partner with ReNew. It is a testament of ReNew’s confidence in our product portfolio, project execution capabilities & life cycle asset management services.
India is a lucrative market for wind energy, specifically with government’s thrust on renewable and the target of 60GW by 2022. This requires an average of over 5 GW of annual market size for the next 7 years, which is more than double the current market size. Given the positive change in the Indian renewable energy landscape, our focus this year is to cater to Indian market and enhance our market share. Our technological prowess, best-in class service, pan-India presence and over 18 years of sustained market leadership give us the competitive edge and the leverage to tap the growth opportunities in India.”
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