Suzlon Energy’s Stock Jumps by 18% in a Day
Suzlon Energy’s stock has witnessed a massive gain in the last three days. The company’s share, which was trading below Rs 10 till three days ago, has closed above Rs 14 today. The stock has registered a gain of more than 18% in a single day.
Key Points
– Suzlon’s share closed at Rs 14.45 with an increase of 18.44% i.e. Rs 2.25.
– The company had received orders for about 20,000 MW from 17 countries to install 12,647 wind turbines.
– Suzlon Energy has reported a net profit of Rs 319.99 crore for the quarter ended March 31, 2023.
– The company has earned a net profit of Rs 2,887.29 crore for the entire financial year 2022-23.
Reason for the Surge
The boom in Suzlon’s stock is not sudden. The company has recently received orders for about 20,000 MW from 17 countries to install 12,647 wind turbines. This is the highest order received by the company in a year. The company is a world-renowned organization in the field of wind energy.
Suzlon has reported a net profit of Rs 319.99 crore for the quarter ended March 31, 2023, while the company had incurred a loss of Rs 205.52 crore in the same period a year ago. The company has earned a net profit of Rs 2,887.29 crore for the entire financial year 2022-23.
Conclusion
Suzlon’s stock has been on a roll since the company received orders for 20,000 MW. The company has been a world-renowned organization in the field of wind energy, and this recent order has helped it gain momentum in the stock market. The company has reported a net profit of Rs 319.99 crore for the last quarter and Rs 2,887.29 crore for the entire financial year 2022-23.
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