Suzlon Energy Hits 52-Week High Amid Rs 232 Crore Block Deal

30 Aug 2023 , 01:30 PM

Suzlon Energy’s shares reached a 52-week high at Rs 25.85 due to Rs 232 crore equity trade on August 30. About 9 crore Suzlon Energy shares were sold in the NSE block deal; buyer and seller unknown.

The company’s Avikiran Solar project downsized from 285 MW to 168 MW due to the pandemic impact on the supply chain. The stock reached a 52-week high of Rs 22.85 on August 24 after winning a 31.5 MW wind power project order.

Q1FY24 sees a 2.17% YoY decline in revenue to Rs 1,351 crore; net profit drops 95.84% YoY to Rs 101 crore due to exceptional items. Operating profit margin contracts by 100 basis points to 15%. Suzlon Energy specializes in wind power solutions, manufacturing wind turbines and components for global markets.

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