Shares of Suzlon Energy Ltd hit an upper circuit of 5% in the afternoon session on Wednesday. The rally in the multibagger stock was trigerred by a series of developments for Suzlon Energy.\u00a0The multibagger stock hit an upper circuit of 5% at Rs 65.34 against the previous close of Rs 62.23 on BSE.\u00a0<\/p>\n\n\n\n
Market cap of the green energy firm rose to Rs 89,171 crore on BSE. Suzlon Energy stock has climbed 70% in a year and gained 515% in two years. The multibagger stock clocked a turnover of Rs 49.14 crore as 76 lakh shares changed hands on BSE in today\u2019s session. <\/p>\n\n\n\n
The stock rose to a 52 week high of Rs 86.04 on September 12 this year and fell to their 52-week low of Rs 35.49 on March 14, 2024. Suzlon Energy shares have a beta of 1, indicating average volatility in a year. <\/p>\n\n\n\n
Shares of Suzlon Energy are trading higher than their 5 day, 10 day, 30 day, 200 day and lower than the 20 day, 50 day, 100 day, 150 day moving averages. <\/p>\n\n\n\n
On Tuesday, Suzlon Energy said the Income Tax Appellate Tribunal (ITAT) has cancelled a penalty of Rs 87.59 crore imposed by the National Faceless Penalty Centre (I-T department) for certain disallowances during the financial year 2015-16. On December 30 too, ITAT nullified a tax penalty order worth Rs 172.76 crore.<\/p>\n\n\n\n
Seperately, Suzlon on December 31 said CRISIL upgraded its ratings for second time in a year. CRISIL Ratings has upgraded its credit rating to \u2018CRISIL A\u2019 with a Positive Outlook, underscoring the company\u2019s robust performance and improved profitability. <\/p>\n\n\n\n
“This marks the second rating upgrade by CRISIL in 2024, reflecting Suzlon\u2019s strong operational efficiencies, disciplined financial management, and consistent quarter-on-quarter growth. Earlier this year, CRISIL had assigned Suzlon a rating of \u2018CRISIL A-\u2019, which has now been further upgraded to \u2018CRISIL A\u2019 in recognition of the company\u2019s improved financial metrics and growing opportunity in the dynamic renewable energy sector. CRISIL also assigned positive outlook reflecting possibility of
WTG business outperformance on higher execution volumes,” said the ratings agency. <\/p>\n\n\n\n
In another development, the company informed exchanges that S Venkata Subramaniam, chief executive officer (CEO) of its wholly-owned subsidiary SE Forge Ltd, has resigned. The resignation would not affect sentiment around the stock. <\/p>\n\n\n\n
“This is to inform that S Venkata Subramaniam, the Chief Executive Officer (CEO) of SE Forge Ltd, a wholly-owned subsidiary of the company, and designated as one of the SMPs of the company, has resigned from the services with effect from close of business hours on December 31, 2024 and accordingly he will cease to be the SMP of the company from close of business hours on December 31, 2024,” Suzlon said<\/p>\n\n\n\n
Suzlon Energy is a provider of renewable energy solutions. The\u00a0\u00a0company is a producer of wind turbines. It offers a range of solar energy solutions, such as solar irradiance assessment, land acquisition and approvals, infrastructure and power evacuation, supply chain, installation and commission and life cycle asset management.<\/p>\n\n\n\n
Eqwires Research Analyst<\/a><\/strong><\/p>\n\n\n\n Top-notch SEBI registered research analyst<\/a><\/strong><\/p>\n\n\n\n Best SEBI registered Intraday tips provider <\/a><\/strong><\/p>\n\n\n\n info@eqwires.com<\/strong><\/a><\/p>\n\n\n\n Telegram <\/a>| Facebook <\/a>| Instagram<\/a><\/strong><\/p>\n\n\n\n Call: +91 9624421555 \/ +91 9624461555<\/em><\/strong><\/p>\n\n\n\n www.eqwires.com<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Shares of Suzlon Energy Ltd hit an upper circuit of 5% in the afternoon session on Wednesday. The rally in the multibagger stock was trigerred by a series of developments for Suzlon Energy.\u00a0The multibagger stock hit an upper circuit of 5% at Rs 65.34 against the previous close of Rs 62.23 on BSE.\u00a0 Market cap of the green energy firm rose to Rs 89,171 crore on BSE. Suzlon Energy stock has climbed 70% in a … Continue reading “Suzlon Energy shares hit upper circuit: Two triggers behind the rally today”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":3340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[74],"tags":[],"class_list":["post-3339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-sebi-registered-advisory-company"],"_links":{"self":[{"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/posts\/3339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/comments?post=3339"}],"version-history":[{"count":1,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/posts\/3339\/revisions"}],"predecessor-version":[{"id":3341,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/posts\/3339\/revisions\/3341"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/media\/3340"}],"wp:attachment":[{"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/media?parent=3339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/categories?post=3339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/tags?post=3339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}