Suzlon Energy Ltd Share Price – NSE /  BSE

Capital Goods - Electrical Equipment, Mid Cap

Suzlon Energy announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 10 October 2024 .

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Suzlon Energy has allotted 47,28,750 equity shares under ESOP on 13 September 2024. With this allotment, the paid up equity share capital has increased to Rs.2729,04,61,642/- dividend into 1364,52,30,821 fully paid-up equity shares having a face value of Rs.2 each.

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The domestic equity benchmarks traded near the flatline with some positive bias in early afternoon trade. The Nifty traded tad above the 24,850 mark after hitting the day's low of 24,753.15 in early trade. FMCG shares advanced after declining in the two consecutive trading sessions.

At 12:30 IST, the barometer index, the S&P BSE Sensex added 38.23 points or 0.06% to 81,244.03. The Nifty 50 index rose 1.50 points or 0.01% to 24,853.65.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.93% and the S&P BSE Small-Cap index declined 1.20%.

The market breadth was weak. On the BSE, 1,383 shares rose and 2,514 shares fell. A total of 153 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.67% to 14.81. The Nifty 26 September 2024 futures were trading at 24,896, at a premium of 42.95 points as compared with the spot at 24,853.65.

The Nifty option chain for the 26 September 2024 expiry showed maximum Call OI of 58.3 lakh contracts at the 25,000 strike price. Maximum Put OI of 93.4 lakh contracts were seen at 25,000 strike price.

Buzzing Index:

The Nifty FMCG index added 1.25% to 63,962.65. The index shed 0.41% in the two consecutive trading sessions.

United Breweries (up 2.69%), United Spirits (up 2.07%), Dabur India (up 1.82%), Hindustan Unilever (up 1.66%) and Britannia Industries (up 1.22%), Marico (up 1.16%), Tata Consumer Products (up 1.07%), Godrej Consumer Products (up 1.04%), ITC (up 0.97%) and Colgate-Palmolive (India) (up 0.58%) edged higher.

On the other hand, Balrampur Chini Mills (down 1.21%), Radico Khaitan (down 0.95%) and Nestle India (down 0.09%) edged lower.

Stocks in Spotlight :

Suzlon Energy rose 0.40%. The company announced that it has bagged India’s largest wind energy order of 1166 MW from NTPC Green Energy (NGEL), the renewables arm of NTPC. The company will install a total of 370 wind turbine generators (WTGs) of S144 equipped with a hybrid lattice tubular (HLT) tower and a rated capacity of 3.15 MW each at two projects of NTPC Renewable Energy (a wholly owned subsidiary of NGEL) and one project of IndianOil NTPC Green Energy (a group company of NGEL) in the state of Gujarat.

Bajaj Finserv fell 0.40%. The company’s subsidiary, Bajaj Allianz General Insurance Company's gross direct premium underwritten for August 2024 was at Rs 1,736.23 crore, recording a growth of 3.48% year on year.

Bajaj Allianz Life Insurance Company's total premium aggregated to Rs 952.52 crore for the month of August 2024, up 2.82% as against Rs 926.41 crore recorded in the same period a year ago.

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Suzlon will install a total of 370 wind turbine generators (WTGs) of S144 equipped with a hybrid lattice tubular (HLT) tower and a rated capacity of 3.15 MW each at two projects of NTPC Renewable Energy (a wholly owned subsidiary of NGEL) and one project of IndianOil NTPC Green Energy (a group company of NGEL) in the state of Gujarat.

This win takes Suzlon’s largest‐ever cumulative order book close to 5 GW as of 03 September 2024.

Girish Tanti, vice chairman, Suzlon Group, said: “We are delighted to partner with NTPC Green Energy Limited, the renewables arm of India largest utility NTPC Limited, in our capacity as the nation’s premier Wind Energy OEM.

This project will emerge as the largest wind energy initiative by a PSU in Gujarat, cementing the state’s leadership in renewable energy.”

Suzlon Energy is engaged in the business of design, development, manufacturing and supply of wind turbine generators (WTGs). Suzlon Energy (SEL) is India's largest renewable energy solutions provider with presence in 17 countries across six continents.

The company reported consolidated net profit of Rs 302.29 crore in Q1 FY25, steeply higher than Rs 100.90 crore posted in Q1 FY24. Revenue from operations climbed 49.60% year on year (YoY) to Rs 2,015.98 crore in the quarter ended 30 June 2024.

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