The shares of Suzlon Energy has constantly making the headlines of the news. After facing the constant three-day losses, the shares of Suzlon Energy has rebound up to 5% Now this thing has created confusion among investors and they want to know more of it. According to multiple reports, Suzlon Energy Ltd’ shares snapped a 3-day losing run, as stockholders judge the recent selloff of the stock as excessive. Surprisingly, the stock that was constantly decreased and fallen 12% in the 3-day selling suddenly rise unto 5% in order to hit its upper circuit limit after that the stock was reported at Rs 39.19 on BSE.
The reports further added that, after the rise of the stock, there were more purchase orders of 11,06,948 Suzlon shares as compared to sell orders of 25,981 shares. It is worth noting that On, Tuesday, 21st November 2023 during the JM Financial India Conference 2023, the management of Suzlon Energy states that the company was aiming on its non-EPC orders, so that they can make operations and maintenance services (O&M) contracts. Apart from Suzlon Energy, there were other 64 companies who took participation in the conference. Suzlon Energy was presented on 1st Day of the conference states the shares of orders from the Commercial & Industrial (C&I) segment has climbed up to 64% in the September quarter.
In the June quarter it was 55%, the credit of rising percent is goes to C&I segment. Furthermore, During the conferences, JM Financial suggested that Suzlon Energy states that the service business is continue to do perform well with an entire of 14.3GW capacity under service. Furthermore, Suzlon Energy quoted diversified and healthy order book, giving the suggestion that the company has an order book of around 1.6 GW as on 30th September 2023. The sudden rise in the stock of Suzlon Energy has now confused the investors, as they were earlier suggesting to sell it. But after watching the sudden rise, the investors are suggesting to again buy it. Earlier, Suzlon Energy shares were reported on lower circuit in the continuous of 2 days but the sudden rise has bring hope among the investors.
On Wednesday, 22nd November 2023, Suzlon Energy was at Rs 37.32 on BSE. It is worth noting that, the share of Suzlon Energy price were opened at around Rs 38.12 against the earlier closing of it which was at Rs 39.28. The shares of Suzlon Energy was constantly reported on lower circuit and in the three sessions, it has lost about 12 per cent. On 28th March 2023, the share price of Suzlon Energy hit its 52-week low of around Rs 6.96. In about 8 months, the stock of Suzlon Energy has surged closely 6 times which is about 464 per cent. It is relief for those investors who invested their money on buying this stock. As of now, we just have this much details but to know more just stay tuned with BusinessView Magazine.
