On September 10, Suzlon Energy’s shares saw a 5% increase, reaching their upper circuit limit. This surge followed a report by the foreign brokerage firm Morgan Stanley, which assigned an ‘Overweight’ rating to Suzlon Energy’s shares with a target price of ₹73. The boost in stock price came after news that the company received a substantial 1.17 GW order from NTPC. Morgan Stanley highlighted this as a significant achievement for Suzlon, especially since it is the first large order from a government company in a long time. Suzlon’s shares are currently trading above Morgan Stanley’s target price.
Previously, Suzlon Energy was ineligible to bid for government projects due to its negative net worth. Morgan Stanley believes that this major contract will improve Suzlon’s earnings for the fiscal year 2025-26.
The company informed the stock exchanges on Monday that it had secured an order of 1,166 MW capacity from NTPC Green Energy Limited. This is the largest wind energy order in the country to date. Under this order, Suzlon will supply wind turbines and handle the installation and commissioning of the project in Gujarat. Additionally, the company will be responsible for operations and maintenance after commissioning.
