Suzlon Energy shares shot up to touch the upper circuit filter of 5 per cent At Rs 65.33 per share after morgan stanley gave the company, a rating update to ‘Overweight’.
The shares of the suzlon energy rang the opening bell at Rs 63.90 per share on the NSE (National Stock Exchange) before the stick went on to touch the day high and upper circuit level of Rs 65.33 per share on the Indian exchanges.
The stock was locked for trading in the upper circuit filter of 5 per cent at Rs 65.33 per share on the Indian Bourses, with a rise of 5 per cent amounting to Rs 3.11 per share on the Bourse.
Suzlon Energy Q2 FY25
According to the company’s BSE filing, net profits increased by 96 per cent to Rs 200.20 crore in the second quarter of the fiscal year 2024–25 from Rs 102.29 crore in the same quarter the year before.
Q2 FY25 Revenue
In the second quarter of the fiscal year 2024–25, the renewable energy company’s revenue from core operations increased by 48 per cent to Rs 2,092.99 crore, up from Rs 1,417.21 crore during the same period the year before.
Suzlon’s operation and maintenance services and the Wind Turbine Generator segment are two examples of the company’s revenue-generating segments. Compared to Rs 875.47 crore in the same period last year, the Wind Turbine Generator segment’s revenues climbed 72.14 per cent to Rs 1,507.07 crore in the second quarter.
Operational revenue
In comparison to Rs 480.29 crore in the same quarter last year, the company’s revenues from its operation and maintenance services increased 17.74 per cent to Rs 565.53 crore in the July to September quarter, the company said.
The Stock performance
Over the past five years, the company’s share has increased by more than 2,800 per cent. Market participants continue to be optimistic about this favorite stock of foreign institutional investors (FIIs).